SEC v. John J. Bravata, et al

SEC Complaint agains Bravata


This case filed against John J. Bravata (John Bravata) of Brighton, Michigan, Richard J. Trabulsy (Trabulsy) of Northville, Michigan, BBC Equities, LLC (BBC Equities) and Bravata Financial Group, Inc. (Bravata Financial), companies formed, owned and controlled by John Bravata and Trabulsy.

The SEC alleges that Bravata and Trabulsy raised more than $50 million from at least 440 investors by offering them interests in a real estate investment fund with promised annual returns of 8 to 12 percent.

The SEC alleges that John Bravata and Trabulsy spent approximately $7.2 million of investor money for their own personal benefit. In order to keep their scheme afloat, they paid out $11.3 million in Ponzi payments by using new investment proceeds to pay distributions to earlier investors. They also spent $14 million soliciting and marketing the offering in order to continue the scheme.

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Reference Info:Pleadings | Federal, 6th Circuit, Michigan | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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