The Securities and Exchange Commission appointed Geoff Winkler as the receiver of Profit Connect Wealth Services, Inc. Profit Connect purported to be a supercomputer-based bitcoin mining business that could generate guaranteed returns on investor money. Profit Connect operated through a series of “promoters” who raised money from small individual investors. The promoters earned a fee for each investor they brought into Profit Connect. In fact, Profit Connect was a Ponzi scheme and hundreds of individual investors lost all of their money. The Receiver retained Buck Keenan to pursue claims against two of the promoters. Just this month, the court entered judgment against one of the promoters for $2 million.
Special thanks to our co-counsel J. Paul Manning and John Moore of Field Manning Stone Aycock P.C.