In Arizona, Trump pitches ideas to attract more Border Patrol agents
SEC charges ‘Cash Flow King’ podcaster in $11 million Ponzi scheme
The Securities and Exchange Commission has charged an individual, Nathan Vipond, who runs the podcast “Cash Flow King”, with allegedly engaging in a Ponzi scheme. According to the SEC’s complaint, Vipond and his co-conspirator, Stephen Beck, induced approximately 150 investors to invest more than $11 million into various entities they controlled since 2018. The entities claimed to invest in distressed real-estate related investments, but Vipond and Beck allegedly directed investor funds to Sanchez-Vipond Enterprises, LLC in order to payoff investor returns and purchase a super-yacht. The SEC alleges that the defendants misappropriated a portion of the investor funds and used them for personal expenses. The SEC’s complaint seeks permanent injunctions, disgorgement of ill-gotten gains with pre-judgment interest, and civil penalties.