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U.S. Securities and Exchange Commission

Jon W. James, J.W. James & Associates, et al.

On August 10, 2006, the SEC obtained a temporary restraining order, asset freeze and other relief to stop an alleged securities fraud by Jon W. James, J.W. James & Associates and several other entities controlled by James.  According to the SEC’s complaint, since at least January 2004, James, through JWJA, has solicited investors with direct mail invitations to free dinner seminars focusing on retirement planning.  In addition, the SEC claims that James falsely told investors their funds would be used for profitable real estate transactions that will provide returns, which at times were represented to be as high as 24%. 

Throughout 2004 and 2005, however, the SEC claims the defendants did not purchase any real estate or real estate-related assets from which to pay investor returns.  Instead, the SEC alleges that the defendants fraudulently used new investor money to pay returns to previous investors.  For more information about the SEC’s action, you can read Litigation Release No. 19801 (Aug. 10, 2006).

The Court also appointed Edythe L. Bronston as Receiver.  For the latest information about the Receivership, you can visit the Receiver’s website.



Modified: 08/29/2006