U.S. Securities & Exchange Commission
SEC Seal
Home | Previous Page
U.S. Securities and Exchange Commission

Pension Fund of America LC, et al.

On March 28, 2005, the SEC obtained a temporary restraining order and asset freeze against Pension Fund of America, LC and PFA Assurance Group, Ltd., unregistered investment advisers operating in Coral Gables, Florida, and affiliated entities PFA International, Inc., and Claren, TPA, and their principals Luis Cornide and Robert de la Riva. The SECís complaint alleged the defendants fraudulently raised approximately $127 million from over 3,400 investors in an investment scheme that targeted Latin American investors. For more information about the SECís action, you can read Litigation Release No. 19161 (Mar. 30, 2005).

On April 15, 2005, the Court entered a preliminary injunction against all defendants. The Court also appointed Thomas Schultz, Esq., as Receiver over all the entities named in the complaint.

For the latest information on the Receivership, please visit the Receiverís website.

http://www.sec.gov/divisions/enforce/claims/pensionfundamer.htm


Modified: 3/22/2013