Michael Liberty, the founder of the fintech startup now known as Mozido Inc., allegedly swindled hundreds of investors into making investments into his shell companies instead of Mozido, according to an SEC Complaint under review by investor rights lawyer Paul Scarlato.
Goldman Scarlato & Penny, P.C. attorney Paul Scarlato is investigating activity related to Michael Liberty’s alleged investment fraud. Investors who believe they have lost money related to Mozido are encouraged to contact attorney Paul Scarlato with any useful information or for a free, no obligation discussion about their options.
Liberty allegedly orchestrated a scheme with his wife Brittany Liberty, his attorney George Marcus, his cousin Richard Liberty, and his cousin’s friend Paul Hess to induce investors to buy unregistered interests in shell corporations controlled by Michael Liberty, according to the SEC Complaint.
Liberty claimed that his shell companies owned transferrable interests in Mozido, the Complaint states. In reality, however, those shell companies either did not own, nor were they allowed to transfer interests in the company, the SEC Complaint states.
Michael Liberty and his accomplices allegedly made false statements to investors regarding Mozido’s valuation and finances, how much Michael Liberty had personally invested in Mozido, and the use of their funds, according to the SEC Complaint under review by attorney Paul Scarlato.
Michael Liberty and his accomplices also executed a set of transactions in which they used investors’ own money to substantially diminish their interests, and duped investors into trading securities for others worth substantially less, according to the Complaint.
The SEC’s Complaint has been filed in federal court in Maine and it charges the defendants with violating the antifraud and registration provisions of the federal securities laws.
The Goldman Scarlato & Penny law firm often represents investors who lose money as a result of investment-related fraud or misconduct. Its lawyers are currently investigating Michael Liberty’s alleged investment fraud. The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients.
Investors who believe they lost money as a result of Michael Liberty’s alleged investment fraud may contact attorney Paul Scarlato for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.