Real Estate ‘Dealmaker’ Owes SEC Millions in Investor Fraud Suit #Real #Estate #Dealmaker #Owes #SEC #Millions #Investor #Fraud #Suit Welcome to Lopoid
A self-described real estate “dealmaker” and his five companies must pay the SEC more than $9.7 million combined after the agency accused them of misappropriating investor funds to buy luxury cars, a federal judge in California said.
Matthew Skinner allegedly raised about $9 million for real estate projects and then misused around $4.7 million. He’s on the hook for a civil fine of nearly $4.8 million after the US District Court for the Central District of California granted summary judgment in favor of the Securities and Exchange Commission.
Skinner, through his investment firm Empire West Equity Inc., solicited investments in …