Whistleblower
Advocates
Award Winning Attorneys
SEC Prosecutions
Judgment Obtained Against Primary Salesperson Involved in Luring Investors Into Ponzi Scheme
SEC v. Frank Bluestein
- 2013
- $4.4 Million
Defendant was a Detroit-area stock broker who was found to have lured elderly investors into the $250 million Ponzi scheme operated by Edward May and his company, E-M Management Company LLC. Defendant raised approximately $74 million from more than 800 investors through fraudulent sales of E-M securities over a five-year period, pocketing close to $4 million in fees, most of which he did not disclose.
