U.S. Securities and Exchange Commission building in Washington, D.C. Photo: Diego M. Radzinschi/ALM Philadelphia Businessman Accused of Scamming Backers Into Investing $31M in Failed Startups
The U.S. Securities and Exchange Commission claimed defendant Josh Verne deceived investors and misused at least $9.3 million for his personal benefit.
June 14, 2023 at 04:56 PM
3 minute read
The U.S. Securities and Exchange Commission has accused a Philadelphia-area businessman of fraudulently raising and misappropriating millions of dollars and returning funds to investors with "Ponzi-like" payments.
In a complaint filed Tuesday, the SEC alleged that the defendant Josh Verne—a former Gladwyne resident now living in Fort Lauderdale, Florida—raised approximately $31 million through the unregistered offer and sale of securities. The SEC claimed Verne deceived investors and misused at least $9.3 million for his personal benefit.
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