- 2001
Defendant Harrold solicited groups of people to invest in an investment program, in which their funds would ultimately end up in a so-called prime bank debenture instrument that would generate a monthly profit of 20%. Rather than make the promised investments, however, Harrold utilized the investors’ funds to pay personal and business expenses, and to repay principal and the purported 20% interest to investors who liquidated their investments. In addition to the relief obtained by the SEC, Harrold was also convicted and sentenced to prison, after three-year stint in Belize as a fugitive.
