John Geringer

Date:

January 15, 2015

Type of alert:

Ponzi Scheme  

California broker John Geringer is accused of operating a $60 million Ponzi scheme that caused investors to lose the majority of their investments. According to an indictment, Geringer, along with Christopher Lucik of Scotts Valley, California, and Keith Rode of Franklin, Wisconsin, managed GLR Growth Fund, an investment fund. They allegedly recruited three investors and promised to spread their funds across different assets, like publicly traded equities and direct private company investments. However, from 2006 to 2009, Geringer misrepresented his investment activity to Lucik and Rode. When the two brokers discovered Geringer’s misconduct, they continued to solicit new investors despite knowing that the money would never be diversified. In total, they allegedly stole $60 million.

Geringer and Lucik both pleaded guilty to three counts of securities fraud, mail fraud, and conspiracy to commit mail and wire fraud. John Geringer was previously employed with American General Securities Incorporated in Houston, Texas, Western Church Insurance in Scotts Valley, California, and Franklin Financial Services Corporation in Springfield, Illinois.

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