Anti-Financial Crime & Financial Crime Compliance
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Financial Crime, North America, Regulatory

SEC shuts down Georgia Ponzi scheme with more than $100M turnover; agents say perpetrators ‘preyed upon clients’ fears’

By Dan Byrne for AMLi

The US Securities and Exchange Commission has moved to shut down a major Ponzi scheme, thought to have amassed more than $110M in fraudulent turnover.

John Woods of Marietta, Georgia (on the outskirts of Atlanta) is now subject to an emergency action by the SEC, as are two companies he controls: registered investment adviser Southport and investment fund Horizon Private Equity (Horizon).

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