Robert Louis Carver, Robert Louis Carver II, James Lowell DeMers, Lincoln Funds International, Inc., and Paropes Corporation f/k/a Brookstone Capital, Inc.
On June 6, 2008, the SEC obtained a temporary restraining order, an asset freeze and other relief against Robert L. Carver, Robert L. Carver, II and James L. DeMers, and their companies, Lincoln Funds International, Inc. and Paropes Corporation f/k/a Brookstone Capital, Inc. According to the complaint, from April 2004 to late May 2008, the defendants raised over $21 million -- which included investorsí retirement money -- from about 400 investors nationwide through the sale of securities of Lincoln Funds, Brookstone and three limited partnerships. The SEC alleged that the defendants sold unregistered common stock in Brookstone and Lincoln Funds touting an initial public offering of the stock and making baseless projections of its stock price, and sold limited partnership interests for purported biotechnology investments.
According to the complaint, the defendants took none of the crucial steps to become a public company and failed to make the biotechnology investments they promised. The SEC also alleged that the defendants concealed Carverís prior criminal record.
In the complaint, the SEC named three limited partnerships and a limited liability company as relief defendants claiming they received significant amounts of investor monies from the defendants.
For information about the Receivership, you can visit the Receiverís website.