Corporate & Securities Law

The attorneys at Eccleston Law are investigating Ralph W. Thompson, Jr., Duane C. Johnson, Robert Casey Hall along with Novus Technologies, LLC and RCH2, LLC for an offering fraud involving the sale of short term promissory notes and joint venture agreements to at least 50 investors.

Utah-based Novus and RCH2 purportedly invested client funds in real estate, money lending, S&P 500 options, foreign currency futures and stocks.  The companies represented to investors that only 20% of investor funds were invested in high risk investments such as currency futures, with the remainder invested in low risk investments.  Investors were told the funds were 100% safe because the funds were pooled in a large interest-bearing account and backed by liquid assets or real estate. 

Contrary to those representations, almost all of the investor money had been invested in high risk currency futures or S&P 500 futures, resulting in trading losses of over $9 million.  Moreover, in classic Ponzi scheme fashion, new investor money was used to pay earlier investors creating the illusion that the fund was successful. 

Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud. Our attorneys also help victims of Ponzi schemes recover by submitting claims with receiverships established by the SEC and by assisting victims with the filing of a Theft Loss Tax Deduction with the IRS.

If you have lost money investing in a Ponzi scheme and would like to discuss your recovery options, please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000.