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

Ponzi Scheme Targeting Spanish, Portuguese Speakers Stopped by SEC

According to the SEC’s allegations, a company known as DFRF Enterprises solicited Spanish and Portuguese speaking investors in Massachusetts and Florida, among other states, for investment opportunities in gold mining. According to the charges, DFRF allegedly claimed to operate more than 50 gold mines, and promised investors that any money they invested with the company would be fully insured. The SEC claims that DFRF Enterprises’ pyramid scheme collected $15 million from approximately 1,400 investors.

In the complaint, the SEC names Daniel Fernandes Rojo Filho as the founder of DFRF Enterprises and the individual the company is named after. Allegedly, Filho concocted the scheme and carried it out with the help of six promoters who were also named in the charges. Filho is a resident of Winter Garden, Florida and his promoters are residents of Massachusetts and Florida, primarily.

According to the SEC, Filho and his promoters solicited people to buy memberships in the company using methods such as meetings, conferences, and promotional videos. Allegedly, Filho even told prospective investors that DFRF Enterprises was registered with the SEC and the company’s stock would soon be publicly traded.

The SEC referred to DFRF Enterprises’ actions as both a Ponzi scheme and a pyramid scheme. Allegedly, the scheme grew through pyramid-style recruiting of new members and earlier investors were paid “commissions” with money from later investors, in typical Ponzi scheme fashion. Meyer Wilson has provided a wide array of resources to help investors avoid pyramid schemes and spot pyramid scams.

If you believe that you or someone you love has invested in a Ponzi or pyramid scheme, we invite you to contact a securities fraud attorney at Meyer Wilson today for a free review of your case.

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