SEC Accuses Florida Man of Running 35 Million Ponzi Scheme Targeting Elderly Church Members

The Securities and Exchange Commission (SEC) has announced that a Florida man has been charged for allegedly operating a Ponzi scheme with an amount of 35 million that victimized numerous elderly and retired church members, causing them to lose their life savings.

Man Behind the 35 Million Ponzi Scheme

Brent Seaman, a currency trader based in Florida, has been charged with orchestrating a $35 million Ponzi scheme aimed at elderly and retired churchgoers within his congregation. According to a complaint filed by the US Securities and Exchange Commission on Thursday, Seaman allegedly defrauded members of the church he actively attends in Naples, Florida.

The complaint alleges that Seaman deceitfully enticed around 60 investors, promising them annual returns ranging from 18 to 48 percent and representing the investments as “safe” with “guaranteed” returns. However, instead of fulfilling his promises, he reportedly diverted millions of dollars for personal expenses, such as luxury cars and private jet trips. Furthermore, he allegedly resorted to using some of the funds to make Ponzi payments to previous investors when he failed to generate profits. Regulators assert that Seaman specifically targeted church members with false claims of success. Eric I. Bustillo, the director of the SEC’s Miami Regional Office, emphasized the agency’s unwavering commitment to pursue those who exploit vulnerable investors.

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Man Behind the 35 Million Ponzi Scheme – Photo by: (People)

Seaman and His Wife Jana Seana

As of Thursday afternoon, Seaman and his wife, Jana Seaman, who is listed in the complaint as a relief defendant, have not responded to messages seeking comment. On social media, Brent Seaman has a prominent presence, sharing flashy images of himself and his wife traveling on private planes and posing with luxury cars, including a Ferrari and Porsche. He presents himself as a venture capitalist and foreign currency trader, claiming to be the founder and CEO of Accanito Capital Group in Naples. The SEC asserts that Seaman attracted investors by promoting his ‘proven success’ in currency investments, while in reality, his currency trading incurred significant losses, resulting in the loss of millions of investor funds.

The complaint accuses Seaman of misappropriating millions of investor funds for personal purposes and utilizing millions more to make Ponzi-like distributions to investors. The complaint charges Seaman, Accanito Capital Group, and various affiliated entities with multiple violations of securities laws.

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