- 2011
- $344,934
Respondent allegedly defrauded clients into transferring their money to Investors Income Fund X, LLC, which she falsely represented was a “bond fund” with fixed annual returns of 8% or 9%, but which in reality was a sham entity/her alter ego. The SEC further found that respondent distributed bogus “returns” to investors. Most of the $1.1 million invested was allegedly used by respondent to, among other things, purchase a condominium and build-out office space for her new business.
