We recently wrote about a Ponzi/pyramid scheme that targeted Spanish and Portuguese speakers in Florida, Massachusetts, and elsewhere throughout the United States. The offerings were made by the company DFRF Enterprises, which claimed to operate various gold mines. The SEC named DFRF Enterprises and other defendants in the complaint, including Jeffrey A. Feldman (CRD# 4440809).
Feldman is a resident of Boca Raton, Florida and the sole officer and director of Universal Marketing Group, Inc., and claims to be a representative for Barbados and London based Accedium Insurance Company, according to the SEC. According to the SEC’s complaint, Feldman made false and misleading statements about DFRF at meetings open to the public as well as on videos that were shared on YouTube and the DFRF website.
In one of the videos, Feldman allegedly states that his insurance company (Accedium) provided risk insurance to DFRF for six years and, during that time, the company received no claims. The SEC claims that Feldman also claims in the videos that Accedium insured 100% of investors’ principal. In reality, says the SEC, Feldman is a convicted felon and not licensed to sell insurance in Florida, nor is Accedium or Universal Marketing Group licensed to sell insurance in Florida.
The SEC says it does not yet know whether Feldman received checks or cash from individual defendants, but allegedly, Feldman did receive $252,000 from DFRF.
Did you invest with Jeffrey Feldman and lose money? We invite you to contact one of the investment fraud lawyers at Meyer Wilson today for a free review of your case so you can learn your legal rights and options.