The SEC sued a real estate fund manager and several current or former executives, alleging they ran a Ponzi-like scheme that used more than $15 million in new investor money to pay existing investors while diverting nearly $6 million to their own companies.
The fund run by Voyager Pacific Capital Management LLC raised roughly $47 million from around 270 equity investors from September 2020 to March 2024, according to the Securities and Exchange Commission’s complaint filed Monday in the US District Court for the Eastern District of California.
One of the executives, CEO Roger David Hardcastle, separately pleaded guilty Monday ...
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