The Securities and Exchange Commission obtained final judgments against eight defendants and one relief defendant in its case against them for their roles in a $345 million Ponzi-like scheme whose victims had included pro athletes, retirees and financial advisors, the SEC said Tuesday.
The final judgments stated that Jay Ledford, Global Credit Recovery, Delmarva Capital, Rhino Capital Holdings, Rhino Capital Group, DeVille Asset Management and Riverwalk Financial Corp. are liable, on a joint-and-several basis, for $183.97 million in disgorgement, plus $5.67 million in prejudgment interest.
The final judgment against Cameron Jezierski, meanwhile, ordered him to pay $105,000 in disgorgement and $2,913 in prejudgment interest.
Those judgments were "deemed satisfied in light of the recoveries made" by a court-appointed receiver and the restitution ordered against Ledford, Jezierski and Kevin Merrill in a parallel criminal case against the defendants that was brought by the Justice Department, the SEC said Tuesday.
Merrill is from Towson, Maryland, while Ledford, is from Westlake, Texas and Las Vegas; and Jezierski is from Fort Worth, Texas.
The judgment against relief defendant Lalaine Ledford, Jay Ledford's wife, provided for the equitable disgorgement of certain vehicles and luxury items that the SEC alleged were obtained with the proceeds from Ledford's fraud.
