September 16, 2014
The Securities and Exchange Commission (SEC) announced that they have frozen the assets of Abatement Corp. Holding Company LImited in Turks and Caicos Islands in connection with its operation of a Ponzi scheme operating in South Florida.
The complaint alleges that Abatement Corp. and now-deceased founder Joseph Laurer (aka Dr. Josef V. Laurer) operated a fraudulent scheme touting safe, guaranteed returns. Brenda Davis, Laurer’s widow is also named in the complaint.
Laurer was well positioned to appear trustworthy as a member of the City of Homestead General Employee Pension Board and president of South Dade chapter of the AARP. Nearly $5 million was raised it the scheme.
Investors should be wary of any investment opportunity that looks too good to be true, especially when it involves off shore accounts.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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