June 30, 2023
The SEC deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Joshua W. Coleman. Coleman has submitted an Offer of Settlement which the Commission has determined to accept. The Complaint alleges that Coleman orchestrated a scheme through Vesta Advisors to obtain over $200 million in illicit loan proceeds. He allegedly misrepresented his authority over, and the value of, securities pledged as collateral for the loans. He then used the proceeds to repay earlier loans, pay for business expenses, and to fund private investments.
The SEC charged Joshua W. Coleman with yielding over $200 million in illicit loan proceeds in a fraudulent scheme. Coleman allegedly diverted proceeds for his personal use, forged signatures, lied to clients, and fabricated information.
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