Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Bay Area Lawsuit Filed in Alleged GLR Growth Fund Ponzi Scheme

In a recent article from the Santa Cruz Sentinel, there was an update related to the alleged GLR Growth Fund Ponzi scheme that took over $5.1 million from investors local to the Bay Area in California. The SEC had previously taken action against John Geringer, Christopher Luck, and Keith Rode for involvement with the alleged Ponzi scheme, and all three men pleaded innocent to the federal charges against them, which included securities fraud, mail fraud, wire fraud, and money laundering. They are scheduled to return to court in the criminal case on May 15.

According to allegations from the SEC and the recently filed lawsuit, Geringer, Luck, and Rode were principals of GLR Capital Management, LLC, and all three men played a part in luring investors into the GLR Growth Fund, which they managed. They are accused of lying to investors about the actual profits and trading activity of the fund and concealing the trading losses that resulted from Geringer’s actual trading in two risky, start-up companies. Rode and Luck were reported to be on the board at the two start-up companies involved.

Some harmed investors also say that they made the decision to invest in the GLR Growth Fund only after speaking with Santa Cruz County Bank’s Vice President Chuck Maffia. According to the article, the lawsuit reportedly names Santa Cruz County Bank as a defendant and claims that the bank knew about the scam. In response, the President of Santa Cruz County Bank stated that, while there is sympathy for the victims, “Santa Cruz County Bank and our employees are in no way at fault or responsible for any wrongdoing or loss in this matter.”

The Ponzi scheme lawyers with Meyer Wilson represent harmed investors in California and across the nation in mediation, arbitration, and litigation against the financial professionals and companies who have harmed them. If you need help making sense of your investment fraud losses, please reach out to us for help.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram