28 Feb Patrick Howard – Fraud Charges/Fraudulent Offering
Patrick O. Howard and Dallas-based Optimal Economics Capital Partners, LLC Allegedly Used New Investor Money in Order to Make Ponzi-like Payments to Previous Investors
Have you or a loved one lost funds investing in OE Capital Ventures LLC?
Several Peiffer Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in Patrick Howard’s alleged investment fraud.
Investors who believe they may have lost money in Howard’s alleged investment fraud funds are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Howard and Dallas-based Companies, Optimal Economics Capital Partners, LLC and Howard Capital Holdings, LLC, allegedly only made use of $7.5 Million of the $13 million in investor funds to make acquisitions of revenue streams from portfolio companies, according to SEC Documents being examined by attorneys Joe Peiffer and James Booker.
What is more, OE Capital Ventures LLC also allegedly made representations that nearly all investor funds would be used to acquire the interests in the portfolio companies’ revenue streams, and that the promised returns were backed by insurance, the SEC also reports.
Said alleged representations were false, the SEC Documents report.
Furthermore, Howard, in an effort to allegedly cover up the reality that revenue from the portfolio companies was insufficient to support the guaranteed minimum returns allegedly sent account statements to investors that purportedly depicted false account balances and encouraged investors to “reinvest” their purported earnings back in the funds, according to the SEC Complaint.
Patrick Howard and Optimal Economics Capital Partners, LLC and Howard Capital Holdings, LLC, in sum, allegedly raised $13 million from 119 investors through the fraudulent offer and sale of interests in three private funds, the SEC Documents report.
The Peiffer Wolf securities lawyers are investigating Patrick Howard’s alleged investment fraud.
Patrick Howard and His OE Capital Ventures LLC Companies Allegedly Made Claims of12% and 20% Annual Returns for Investors by Putting Cash into OE Capital Funds with Minimal Risk Exposure
Patrick Howard and his OE Capital Ventures, since February 2015, allegedly told investors that they would earn annual returns between 12% and 20% by investing in said funds with minimal risk exposure, according to the aforementioned SEC Documents being examined by attorneys Joe Peiffer and James Booker.
Howard also allegedly made representations that nearly all investor funds would be used to acquire the interests in the portfolio companies’ revenue streams, and that the promised returns were backed by insurance, the SEC states.
Finally, it was also allegedly represented that nearly all investor funds would be implemented to acquire the interests in the portfolio companies’ revenue streams, and that promises were allegedly made of said returns being backed by insurance, the SEC notes.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Patrick Howard’s alleged investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Patrick Howard’s alleged investment fraud may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 216-589-9280 or via e-mail at [email protected] or [email protected].
