June 20, 2023
The SEC filed charges against Cedric Dewayne Griffin for allegedly raising nearly $6 million from over 100 investors through a fraudulent securities offering targeting African Americans. Griffin allegedly conned individuals into investing in promissory notes issued by his companies, G8 Equity LLC and G8 RE Capital LLC. He promised investors high monthly returns ranging from 10% to 33%. Griffin used the funds to pay other investors in a Ponzi-like way.
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