SEC v. Veros Partners, Inc., et al.
Case No. 15-cv-00659-JMS-MJD (S.D. Ind.)
On April 22, 2015, the Commission filed a complaint, which was amended on June 11, 2015, against Veros Partners, Inc. (“Veros”), Matthew D. Haab (“Haab”), Jeffrey B. Risinger (“Risinger”), Veros Farm Loan Holding LLC (“Veros Farm”), Tobin J. Senefeld (‘Senefeld”), Farm Growcap LLC (“Farm”), and Pincap LLC (“Pincap”) (collectively, “Defendants”), and Pin Financial LLC (“Relief Defendant”). The complaint alleged that, from 2013 to 2014, the Defendants violated federal securities laws by fraudulently raising at least $15 million from at least 80 investors in two separate farm loan offerings. See Amended Complaint.
As of July 3, 2017, Haab, Risinger, and Veros have settled. No payments have been received from Veros towards the $1,083,283.19 in disgorgement, prejudgment interest, and civil penalties. See Veros’ Final Judgment. Haab and Risinger have paid as ordered, a total of $283,640.00 in disgorgement. See Haab’s Final Judgment and Risinger’s Final Judgment.
On June 30, 2017, the Commission filed a motion to transfer the funds received from Haab and Risinger (“Settlement Funds”) to the court-appointed Receiver in this matter for distribution to harmed investors. See the Commission’s Motion.
On July 3, 2017, the Court entered an order approving the Commission’s motion to transfer the Settlement Funds to the Receiver for distribution to investors. See the Court’s Order.
Litigation is still pending in regards to all other parties.
For more information, please contact either:
Office of Distributions
William E. Wendling, Jr.
Campbell Kyle Proffitt LLP
Telephone Number: 800-631-9383