Feds Release Details of Mark Sellers Suicide and the Selden Companies Scheme
Have you lost money investing in Selden Companies LLC, a Kansas City, Missouri-area based company? Our firm is investigating allegations that Mark Sellers, the owner and operator of Selden Companies, ran a fraudulent scheme or Ponzi scheme. In August 2016, the FBI raided the home of Mark Sellers to investigate allegations of fraud, and Sellers allegedly committed suicide while investigators were at his house in Northland. Investors who put money in Selden Companies may have suffered substantial losses.
In April 2017, federal prosecutors alleged that Sellers’ scheme affected over 100 investors in the Kansas City area and amounted to a nearly $10 million scheme. A press release filed on April 14 by the U.S. Attorney’s Office in the Western District of Missouri reveals that of the $9.9 million taken, over $7.4 million was used to pay credit cards; another $700,000 was used for jewelry; and $930,000 were used to remodel Sellers’ home. The U.S. Attorney’s Office recently filed a complaint in an effort to recover assets from Sellers’ estate.
It has also been alleged that investments in Selden Companies were being sold by a financial advisor John Scott Elliott. John Scott Elliott was a financial advisor that had been registered and affiliated with Ameriprise Financial Services from November 2011 to September 2016. Elliott worked at branch offices in Leawood and Overland Park, Kansas. Our firm currently has represented investors who lost money in the Selden Companies scheme through recommendations by Elliott.
Brokerage firms like Ameriprise have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors who lost money in the Selden Companies scheme, as well as others throughout the Kansas City area. Our attorneys currently represent an investor who brought claims of wrongdoing against a Kansas City area financial advisor, and we have represented other investors from Missouri and Kansas in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, Ameriprise Financial Services.
Click to view: Sellers, Mark Federal Complaint
Click to view: Elliott, John BrokerCheck 8.6.16 (1)
If you lost money with Mark Sellers, Selden Companies LLC, John Scott Elliott, or Ameriprise Financial Services, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.