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

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.