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Jerome & Shaun Cohen, EquityBuild, Inc.— Alleged Ponzi Scheme

Jerome and Shaun Cohen and Their EquityBuild Inc. Allegedly Promoted South Shore Chicago Properties as Part of a $135 Million Ponzi Scheme

The father-and-son duo of Jerome and Shaun Cohen headed up EquityBuild and a subsidiary, EquityBuild Finance, and allegedly raised $135 million from over 900 investors since 2010, according to a Complaint from the SEC under review by attorney Alan Rosca.

The purported investments touted by the Cohens allegedly included two South Shore properties—a 40-unit apartment building at 7549-7559 S. Essex Ave. and a 31-unit building at 2909 E. 78th St.—that an EquityBuild fund allegedly acquired in January for $3.2 million, according to property records from Cook County.

EquityBuild, in a telltale sign of a Ponzi scheme, also allegedly made payments to older investors with the proceeds of newer investments, paying out roughly $14.5 million in interest payments between January 2015 through February 2017 even though fees and income from EquityBuild properties totaled only $3.8 million, the SEC states.

Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Equitybuild Inc.’s alleged Ponzi scheme. Investors who believe they may have lost money in activity related to Equitybuild Inc.’s alleged Ponzi scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options. The SEC will not recover anywhere close to the total losses, and our goal is to supplement whatever recovery is going to be available.

The SEC Has Filed an Emergency Motion for a Temporary Restraining Order Barring the Company from Further Alleged Violations of Federal Securities Laws

The SEC has also allegedly filed an emergency motion for a temporary restraining order which would bar EquityBuild from further violations of federal securities laws, stating that Equitybuild is still allegedly actively soliciting investors, according to the aforementioned Complaint under review by attorney Alan Rosca.

The SEC is also requesting an accounting of the company’s finances and the appointment of a receiver to oversee the company’s finances, the Complaint states.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Equitybuild Inc.’s alleged Ponzi scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Equitybuild Inc.’s alleged Ponzi scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at, or through the contact form on this webpage. The SEC will only recover a fraction of the investor’s losses, and our goal is to supplement whatever recovery is going to be available for investors through the SEC Action.

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing. Visitors may check the most recent version of each brokercheck report at

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