Richard Clatfelter Barred by SEC
Have you lost money with financial advisor Richard Clatfelter of Chandler, Arizona? We are investigating allegations made by the SEC (Securities and Exchange Commission) against Richard Clatfelter. In May 2016, the SEC filed a complaint in the District Court of Utah, alleging that Richard (Rick) Clatfelter, Chad Deucher and Marquis Properties, LLC were running a Ponzi Scheme. In December 2016, the SEC barred Clatfelter from the securities industry after a judgment was entered against him in the District of Utah.
The SEC alleged that starting 2010, Deucher and Clatfelter operated Marquis Properties, which was intended to rehabilitate real properties and make a profit. Marquis was represented as being safe and low risk. In fact, the properties were not owned by Marquis, and money was often used to pay for personal expenses or to pay back purported “returns” to other investors, a classic Ponzi scheme. The SEC alleged that over $28 million from 250 investors was raised for this scheme.
Rick Clatfelter was affiliated with Horter Investment Management, LLC, an investment advisory firm based out of Cincinnati, Ohio, from December 2009 to December 2011. Clatfelter worked out of offices in Chandler and Mesa, Arizona.
Advisory firms like Horter Investment Management have a responsibility to adequately supervise all investment advisors and employees who are registered through their firm. Advisory firms also must take steps to ensure that their advisors follow all securities rules and regulations, as well as internal firm policies. When advisory firms like Horter Investmetnt Management fail to adequately supervise their 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 Denver, Colorado and the Seattle area. We represent investors in all 50 states, including investors in Arizona and Utah as well as investors in the Phoenix and Salt Lake City areas. Our attorneys have represented over one thousand investors against many brokerage firms and investment advisory firms in the past.
Click to view: Clatfelter, Richard SEC Order
Click to view: Clatfelter SEC Comp
Click to view: Clatfelter IA Check 5.6.16
HAVE YOU LOST MONEY WITH RICHARD CLATFELTER OR HORTER INVESTMENT MANAGEMENT?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
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.