WINSTON REED INVESTMENTS LLC REVIEW
This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/winston-reed-investments-llc-5YCWX/offering-fraud-id5ydqr .
Today, The Smart Investor Feed brings you another morally reprehensible fraud.
Winston Reed Investments LLC has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?
We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.
Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:Full Report On Winston Reed Investments LLC
On November 20, 2020, the U.S. District Court for the Western District of North Carolina entered final consent judgments against Mark N. Pyatt and Winston Reed Investments LLC in connection with their roles in a fraudulent investment scheme.
The SEC's complaint alleged that, beginning in April 2017, Winston Reed and Pyatt raised hundreds of thousands of dollars from retail investors by representing they would use a sophisticated trading strategy to trade in futures contracts, foreign exchange, and stocks. Instead, Pyatt allegedly used the vast majority of investor money for personal expenses, including vehicles and jewelry. The complaint further alleged that Pyatt provided investors with false and misleading reports purporting to show substantial returns based on his trading.
Winston Reed and Pyatt consented to final judgments permanently enjoining them from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Pyatt and Winston Reed also agreed to pay, jointly and severally, disgorgement of $255,850, subject to offset by amounts paid as restitution in a parallel criminal case against Pyatt where Pyatt pled guilty to one count of wire fraud and was sentenced to 37 months imprisonment followed by three years of supervised release. The Court previously dismissed relief defendant Daniel G. Randolph.Conclusion: Winston Reed Investments LLC Is A Fraud
The report on SEC clearly suggests that Winston Reed Investments LLC never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.
If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.Help Us Fight These Criminals
Do you have evidence against Winston Reed Investments LLC or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.
Full Disclosure: We sourced this piece of information from the SEC database