A real estate entrepreneur and three companies he ran fraudulently sold approximately $2.65 million to 13 investors using promissory notes that purported to fund residential property purchases, renovations, or development projects, the SEC said.
Investors lost approximately $2.4 million to Joshua Thomas Jackson’s alleged scheme, which only allocated a small portion to real estate ventures and otherwise diverted the money to repay investments or fund his personal accounts and expenditures, including travel and restaurant meals, according to the Securities and Exchange Commission’s complaint filed Tuesday in the US District Court for the Eastern District of Texas.
Jackson also paid employee ...
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