SEC v. Joel Castellanos

Joel Castellanos allegedly played a role in an alleged $196 million fraudulent securities offering orchestrated by MJ Capital Funding, LLC. According to the SEC’s complaint, Castellanos personally and through his sales team, solicited and raised at least $25.2 million in MJ Capital’s unregistered securities from at least 1,222 investors. The complaint alleges Castellanos earned commissions on his sales, even though he was not registered as a broker or dealer.

Summary generated from official Securities and Exchange Commission press release