California Real Estate Fraud Report

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17
Sep

Operators of “Indestructible Wealth Bootcamp” target of SEC for investor fraud

Paul Ricky Mata, David Kayatta and Mario Pincheira are on the receiving end of civil fraud charges by the Securities and Exchange Commission (SEC), which accuses the men of diverting money given to them for investments for their own personal use and for unrelated business ventures. The SEC has obtained an asset freeze and a preliminary injunction against the trio as part of its action.

In a separate action, the California Department of Business Oversight filed a $20 million securities lawsuit in state courts.

The SEC claims that Paul Mata ran the scam through his companies Secured Capital Investments, Logos Wealth Advisors, Lifetime Enterprises and Logos Real Estate Holdings. Solicitations by Mata, Kayata and Pincheira are alleged to have raised $14 million for two unregistered real estate funds by posting videos to YouTube channel with titles such as “Finances God’s Way” and “Indestructible Wealth.”

Mata, previously a financial advisor for Ameriprise Financial, has an  “extensive disciplinary history,” according to the SEC.

Read the original article in Financial Advisor Magazine.

 

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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