September 2018 UPDATE–Betsy & Michael Feinberg Indicted for Fraud. Tuscon.com reports that Michael and Betsy Feinberg have been indicted for allegedly participating in an ongoing scheme to defraud investors and for using investor funds to pay their own personal living expenses and lavish lifestyle.
ORIGINAL POST-February 3 , 2015- Tucson, Arizona
The Arizona Daily Star reports that the Arizona Corporation Commission ordered Michael and Betsy Feinberg and their company, Catharon Software, Inc. to pay $4.9 million in restitution plus a penalty of $250,000, to resolve charges that they defrauded investors with an unregistered securities offering.
According to the press release, the Feinbergs told investors Catharon would generate $2 billion in revenue in three years yielding returns in excess of 400%. The Commission found that the Feinbergs failed to disclose to investors their use of investor money for personal expenses.
If you invested in Catharon Software upon the recommendation of a registered stock broker, you may be able to recover damages from the broker’s firm. Call for details.
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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