SEC v. Daryl F. Heller

Daryl F. Heller and his companies, Prestige Investment Group, LLC and Paramount Management Group, LLC, allegedly operated a multi-year Ponzi scheme that resulted in investor losses of approximately $400 million. According to the complaint, from January 2017 through June 2024, Heller and Prestige raised more than $770 million from approximately 2,700 investors to invest in ATMs operated by Paramount. Heller also allegedly misappropriated more than $185 million of investor funds for his own benefit, including for a beach house and his other businesses, according to the complaint.

Summary generated from official Securities and Exchange Commission press release