Professional Writing
Professional Writing
This is a conceptual example of professional writing, simplifying an article to be understandable for a wider audience. The original is here.
On Jan 17, 2025, the Securities and Exchange Commission brought a lawsuit against Scott J. Mason, an investment advisor from Pennsylvania, and his companies Rubicon Wealth Management LLC and Orchard Park Real Estate Holdings LLC, with stealing more than $20 million from at least 13 clients.
The complaint claims that Mason transferred money from Rubicon client accounts to his own and to other accounts within his company. It also says that Mason used that money for himself, paying country club dues and buying a miniature golf course, and gave some to other clients. The complaint also says that he forged signatures and lied about what he was doing with clients’ money, and hid his fraud for nearly a decade by creating fake account statements and tax documents.
The Regional Director of the SEC’s Philadelphia Regional Office, Nicholas P. Grippo, said, “As alleged, Mason’s clients trusted him to invest their money as he said he would but, instead, he repeatedly abused that trust to enrich himself at their expense. He then lied to them and manipulated documents to cover his tracks. This action once again shows the SEC’s commitment to holding advisers accountable when they violate the federal securities laws.”
The SEC’s complaint charges Mason and his companies, Rubicon and Orchard Park, with violating the antifraud provisions of the federal securities laws, which bans the use of fraud, deceit, and misrepresentation in the sales of securities. Mason and his companies have received judgement forbidding them from continuing these violations, and will be expected to pay penalties decided on a later date.
At the same time, the U.S. Attorney’s Office for the Eastern District of Pennsylvania also announced criminal charges against Mason.
The SEC’s investigation was conducted by Laura E.L. Gavin, Brian P. Thomas, and Norman P. Ostrove in the SEC’s Philadelphia Regional Office. It was supervised by Scott A. Thompson and Nicholas P. Grippo in the Philadelphia Regional Office. The litigation will be led by Spencer Willig and supervised by Gregory R. Bockin. The SEC appreciates the assistance of the United States Attorney’s Office for the Eastern District of Pennsylvania and the FBI.