On September 29, 2014, the U.S. Securities & Exchange Commission (SEC) announced charges against Erick Laszio Mathe, former CEO of Vision Broadcast Network and consultant Ashif Jiwa with raising nearly $6 million from 100 investors by misrepresenting the stations and licenses owned by Vision Broadcast. Mathe and Jiwa both live in Miami Beach, FL.
In addition to providing false information about revenues and future prospects, the promoters falsely stated that basketball legend Michael Jordan planned to invest in the company.
Much of the raised capital was funnelled to companies owned by Mathe and Jiwa and was used by them for personal and travel expenses unrelated to Vision Broadcast’s business.
A criminal action has been filed against Mathe and Jiwa by the U.S. Attorney’s office in the Eastern District of Pennsylvania.
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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