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SEC Prosecutions
Injunctions Obtained Against Purported Real Estate Business and Owner for Charged Ponzi Scheme
SEC v. Robert R. Anderson, and Rosand Enterprises, Inc.
- 2014
The SEC alleged that defendants issued promissory notes falsely claiming that Rosand Enterprises would generate investor returns ranging from 10% to 20% per month through real estate operations/transactions in the Chicago area and other locations. In reality, the company was not making any money. The scheme raised approximately $12 million from at least 77 investors over 2½ years, and only around $550,000 of that was invested (and was nearly entirely lost). The rest was used for Ponzi payments and misappropriated for Anderson’s personal use.
