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James Risher Sentenced to Nearly 20 Years for Ponzi Scheme
Posted by: Robert Rex
January 04, 2012

On December 6, 2011, Judge Steven D. Merryday sentenced serial Ponzi schemer James Risher to 19 years and 7 months in Federal prison for defrauding over 100 central Florida residents out of nearly $20 million dollars. The Court noted that Risher has multiple arrests and prior convictions for securites fraud. Since Risher is 61 years of age he is likely to remain in jail for most of the rest of his life.

 We are representing a large group of victims who are seeking recovery of their lost nest eggs in FINRA arbitration and will soon be proceeding with a court action against other financial institutions who enabled Risher's scheme.

If you have questions about your brokerage account, an investment advisor or any investment scheme, please do not hesitate to call Robert Rex, Esq. at 561 391 1900 or email to rhr@dmrslaw.com. For more information regarding your rights as an investor, visit our main website www.dmrslaw.com .

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SEC Files Complaint Naming James Risher and Daniel J Sebastian in Connection with Jade Asset Scheme
Posted by: Robert Rex
September 02, 2011

The Securities and Exchange Commission has filed a complaint naming James Risher and Daniel "DJ" Sebastian in connection with the Jade Asset Ponzi scheme. This follows Risher's guilty plea entered last week to the charges filed against him by the Department of Justice. Sebastian was not implicated in that investigation.

 The SEC's complaint presents a detailed outline of the rise and fall of Risher and Sebastian's ponzi scheme. The details revealed within it are consistent with those uncovered during our investigation carried out on behalf of the over 130 victims of this scheme represented by our office. The commission seeks the filing of a permanent injunction against Risher and Sebastian and an order compelling them to repay their victims with prejudgement interest included.

 A copy of the complaint is attached below. 

Attachments:
SECComplaintRisherDJSebastian8302011.pdf

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James Risher Enters Guilty Plea
Posted by: Robert Rex
September 02, 2011

James Davis Risher, the man who bilked investors out of $21 million in a massive central Florida-based ponzi scheme, has plead guilty to the charges filed against him approximately three months ago. 

The terms of his plea obligate him to comply with the federal government's investigation of his scheme, turn over all his records, pay restitution to his victims, and forfeit all of his assets, including a Lexus SUV and a $56,000 engagement ring. He faces up to 50 years in prison.

Dickenson, Murphy, Rex and Sloan represents over 130 of Risher's victims and has filed a FINRA action against Golden Beneficial Securities, the brokerage firm through which Risher funneled at least $4 million of investor's capital. The firm is considering bringing further action against other institutions involved in this scheme.

Questions about this announcement can be directed to nlt@dmrslaw.com

click here for our announcement about risher's arrest

click here for the Miami Herald's news story on Risher's plea. 

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US District Court for Middle District of Florida issues criminal complaint against James D. Risher for committing mail fraud, wire fraud and money laundering in connection with Jade Asset Group, Managed Capital and Safe Harbor Investments
Posted by: Robert Rex
June 06, 2011

A criminal complaint has been filed in US District Court charging James Davis Risher with mail fraud, wire fraud, and money laundering. The complaint is the result of an investigation carried out by the US Postal Inspection Service, the FBI, the Florida Dept. of Law Enforcement, the IRS, and Florida's Office of Financial Regulation.

In an affidavit supporting the complaint, USPIS Inspector Linda Walker asserts that between 2007-2010, James Risher raised approximately $20 million in investor funds to be invested in one of his ?Private Equity Funds?. The investigation has revealed that although millions of dollars were deposited to a Penson Financial Services account controlled by Risher, millions more were diverted for his personal benefit and used to purchase real estate, vehicles, artwork, and other effects. Risher operated through as many as 24 bank accounts across several major US banks. James Risher is a twice convicted felon with a history of money laundering and securities violations, and was placed on an Immigration and Customs Enforcement (ICE) watchlist to notify agents if he was scheduled to travel outside the US. Agents were notified by ICE that Risher was scheduled to fly from North Carolina to Bermuda on the morning of May 31, 2011, where he is known to have a bank account. James Risher is now under arrest and scheduled to appear before a judge on June 17^th.

Dickenson, Murphy, Rex and Sloan PA represents over 120 victims of James D. Risher and his various fraudulent schemes. The information revealed in this complaint is largely consistent with what has been gathered in our investigation of this case. We continue to investigate in anticipation of initiating action against the vaious firms which made it possible for Risher to operate his frauds.

If you would like to contact our office with information please do so at 561-391-1900 or through nlt@dmrslaw.com.

Attachments:
RisherComplaintAffidavit.pdf

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The Securities Law Firms of Robert H. Rex, Esq. and Gregory F. Tendrich, Esq. Announce That They are Investigating and Filing Claims on Behalf of Investors Dealing with James Risher, Jade Asset LLC, and Others
Posted by: Robert Rex
November 05, 2010

The securities arbitration division of the Law Offices of Dickenson, Murphy, Rex & Sloan and The Law Offices of Gregory S. Tendrich, Esq., of Boca Raton, FL, announce that they are investigating potential claims on behalf of approximately 150 individuals who invested in the following investment companies purportedly managed by James D. Risher, of Ft. Myers Florida:

• Jade Asset Group, LLC

• Jade Asset Management

• Managed Capital, LLC

• Capital Requirements

Investors were led to believe that their retirement funds were held in an investment account at Golden Beneficial Securities, a Financial Industry Regulatory Authority (FINRA) member firm in Houston, TX, and further led to believe that the account cleared through Penson Financial Services, Inc. (NASDAQ:PNSN), headquartered in Dallas, TX.

Retirement and IRA account holders were led to believe that their retirement accounts were in the custody of Penson Financial Services.

Regularly scheduled distributions from these companies have ceased and at this point in time no explanation has been provided regarding the status of the invested funds.

Individuals who were involved with Mr. Risher, and/or any of these firms or have information which they believe may be relevant to this investigation can contact attorney Robert H. Rex or Nan Thompson at the law offices of Dickenson, Murphy Rex and Sloan PA. Mr. Rex is dedicated to pursuing claims on behalf of investors and practices exclusively in the field of securities arbitration. If you wish to discuss this announcement, please contact him at 561-391-1900 or by e-mail at nlt@dmrslaw.com. 

Click here to see this press release on the New York Times.

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