NY-AG v. Wright

David and Ramona Wright allegedly defrauded over two dozen individuals in a $650,000 investment fraud scheme. According to NY-AG, the Wrights allegedly solicited and obtained over $650,000 in investments in Wright Wellness Solutions from over two dozen individuals for the development, marketing, and sale of a rehabilitative hospital bed. The Wrights allegedly used the investment money almost exclusively for personal gain, including the purchase of a $145,000 53-foot yacht, $120,000 to purchase, fuel, and maintain two luxury vehicles, over $100,000 in cash withdrawals, the purchase of two Rolex watches, and self-dealing transfers to other companies the Wrights owned. Additionally, the Wrights allegedly gave themselves unauthorized loans of investment money and falsely omitted those loans from the financial statements of the company.

Summary generated from official New York Attorney General press release