SEC Obtains Final Judgments Against Investment Adviser and its Top Officials for Theft from Detroit Police and Firefighters Pension Fund, and Concealment Thereof

Respondent Mayfield, the founder, president, and CEO of MayfieldGentry Realty Advisors, allegedly took nearly $3.1 million from the Police and Fire Retirement System of the City of Detroit without obtaining permission to purchase two strip malls in California, which he titled in the name of a MayfieldGentry affiliate. Other executives at MayfieldGentry (co-defendants) gradually became aware of the theft and, rather than come clean about and risk losing the firm’s biggest client, they allegedly devised a plan, ultimately unsuccessful, to secretly repay the pension fund by cutting costs at the firm and selling the strip malls.