SEC Charges Florida Man in $860K Fraud Scheme Draft

The SEC alleges that from October 2023 through August 2024, Williams made false statements to investors about fund performance and portfolio value.

He sent cropped screenshots showing inflated trading profits to convince at least 18 investors, many of whom were current or retired law enforcement officers, to invest approximately $860,000.

Williams used his association with a third-party police and firefighter pension plan administrator to gain trust, the SEC said.

Approximately $384,000 was allegedly misappropriated for personal expenses, including a sports car, vacations, and credit card payments.

Williams began repaying some investors in August 2024 and has returned more than $375,000, according to the complaint.

The SEC filed charges in the U.S. District Court for the Southern District of Florida against Williams and CMI Capital, also known as Check Mate Investments.

They are charged with violating antifraud and registration provisions of the Securities Act of 1933 and antifraud provisions of the Securities Exchange Act of 1934 and Investment Advisers Act of 1940.