SEC v. Pannon Investment Advisors LLC and Dusan Varga

Pannon Investment Advisors LLC and Dusan Varga allegedly fraudulently raised approximately $1.6 million from at least 20 investors through an unregistered securities offering. Varga and Pannon allegedly made Ponzi-like payments to investors, misused and misappropriated investor funds, and otherwise engaged in a variety of conduct which operated as a fraud and deceit on investors, according to the SEC.

Summary generated from official Securities and Exchange Commission press release