SEC secures $1.1 million judgment against Keith Crews for investor fraud

In a recent legal development, a federal judge in Georgia has issued a $1.1 million default judgment in favor of the US Securities and Exchange Commission (SEC) in a case involving Keith Crews. The SEC had accused Crews of running a Ponzi scheme and defrauding investors out of millions of dollars.

The SEC alleged that Crews, along with his company the Millionaire Money Machine, had promised investors high returns through investments in foreign exchange trading. However, instead of investing the funds as promised, Crews used the money to pay off earlier investors and finance his lavish lifestyle.

Despite being served with the SEC’s complaint, Crews failed to respond or defend himself in court. As a result, the federal judge entered a default judgment in favor of the SEC, ordering Crews to pay over $1.1 million in disgorgement and prejudgment interest.

This case serves as a reminder of the importance of conducting thorough due diligence before investing money with any individual or company. Ponzi schemes can be difficult to detect, as they rely on a constant influx of new investor funds to pay off earlier investors. Investors should be wary of any investment opportunity that promises unusually high returns or seems too good to be true.

If you have been a victim of investment fraud or suspect that you may have fallen prey to a Ponzi scheme, it is crucial to report the incident to the appropriate authorities. In this case, the SEC was able to hold Crews accountable for his actions and secure a significant judgment on behalf of defrauded investors.

By remaining vigilant and conducting thorough research, investors can protect themselves from falling victim to fraudulent schemes. It is important to remember that if an investment opportunity seems too good to be true, it probably is. Always seek advice from a trusted financial advisor and be cautious of any investment that guarantees high returns with little to no risk.

The SEC’s successful judgment against Keith Crews sends a strong message to would-be fraudsters that they will be held accountable for their actions. Investors should be aware of the risks involved in any investment opportunity and take steps to protect themselves from falling victim to financial scams.