August 3, 2015-Hoiuston, Texas
Frederick Alan Voight of Richmond, Texas, was charged by the Securities and Exchange Commission with defrauding over 300 investors in a $114 million Ponzi scheme.
Investors believed they were investing in technology that would prevent accidents caused by drowsy driving. Voight sold promissory notes in two partnerships, F.A Voight & Associates LP and DayStar Funding LP.
“Voight wooed investors with promises of outsized returns and once-in-a-lifetime investment opportunities. But, like all Ponzi schemes, we allege that this one collapsed when Voight couldn’t find enough new money to keep up with his false promises,” said David L. Peavler, Acting Regional Co-Director of the SEC’s Fort Worth Regional Office in an SEC press release.
According to the SEC’s complaint, Voight recently raised $13.8 million that he said would be loaned to a startup named InterCore Inc. to fund its deployment of a “Driver Alertness Detection System,” or DADS.
Named in the complaint filed by the SEC are:
- F.A. Voight & Associates
- Rhine Partners LP
- Topside Partners LP
- InterCore Inc.
- InterCore Research Canada (relief defendants to recover any allegedly ill-gotten gains)
Voight and DayStar are charged with securities fraud and conducting unregistered securities offerings.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are 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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