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Karina N. Fernandez, Marco A. Rosas, Bryant Guayara, Erick M. Ruiz, and Leonela M. Duarte

Date:

October 23, 2024

Type of alert:

SEC Charges Filed  

The SEC charged five individuals—Karina N. Fernandez, Marco A. Rosas, Bryant Guayara, Erick M. Ruiz, and Leonela M. Duarte—for their roles in a $196 million Ponzi scheme involving MJ Capital Funding, LLC. The SEC alleges that Fernandez, a former manager and sales agent, raised $891,000 from investors and made misleading claims about MJ Capital not being a Ponzi scheme. Meanwhile, Rosas, Guayara, Ruiz, and Duarte allegedly sold $18 million in unregistered securities, earning significant commissions without proper broker-dealer registration. The SEC seeks injunctive relief, disgorgement, and civil penalties for violations of securities laws. The investigation is ongoing.

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