Man charged with defrauding deaf investors

Man charged with defrauding deaf investors

September 9, 2011

By William Spain

CHICAGO (MarketWatch) — The Securities and Exchange Commission has filed
fraud charges against a Texas man in connection with his alleged scheme for
bilking deaf investors out of millions of dollars. The SEC charges that Jody
Dunn, who is also deaf, collected $3.45 million from several thousand people
claiming that he would invest it in on their behalf. Instead, he took some
of their money and used it to pay his mortgage, car payments, insurance and
other personal expenses. The money was supposed to go to Imperia Invest IBC,
shut down by the SEC last year, which promised a guaranteed return of 1.2%
per day. But investors “have never been paid any interest after giving their
money to Dunn,” the SEC said and even after regulators issued an alert about
Imperia, he “continued to reassure investors that Imperia was legitimate.”

SEC vs Jody Dunn – Court Order paperwork (PDF)

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