A lawyer and his firm are among a group that schemed to raise $449 million for investments in purported litigation settlements, then misappropriated funds for boats and a private jet, the SEC alleges in federal court in Nevada.
Matthew Wade Beasley, Beasley Law Group PC, and nine other defendants took part in the scheme, which convinced more than 600 investors to purchase interests in insurance tort settlements with a promised annual return of 50% or more, according to the Securities and Exchange Commission complaint filed in the U.S. District Court for the District of Nevada.
FBI agents executed search warrants ...
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