Daniel B. Rudden of Denver was recently sentenced to 10-years in prison for running a lengthy Ponzi scheme through his Financial Visions companies by a Federal Court in Colorado. 

Authorities Order Disgorgement and Restitution Order

The Securities and Exchange Commission (SEC) permanently enjoins Mr. Rudden and his companies of violating antifraud provisions of the securities law. Authorities are also ordering disgorgement of $6.5M and requesting Mr. Rudden’s frozen assets to be used to help satisfy that criminal restitution order. 

In the parallel criminal case, Mr. Rudden was sentenced to serve 121 months in federal prison accompanied by three years of supervised release and required to pay restitution of approximately $20M to the victims of his Ponzi scheme.

Hallmarks of a Ponzi Scheme

A Ponzi scheme is criminal theft on a large scale. Often called a pyramid scheme because of how money moves, money of new investors is used to make payments to earlier investors. A hallmark of a Ponzi scheme is that there is no “investment” occurring — money is simply being shifted from one person to another, with the initiator of the investment scheme skimming money off the top in order to keep the scheme going. 

In this case, Mr. Rudden promised investors returns, instead using the funds for personal lifestyle expenses, only taking money and not making investments. 

Think You Have a Case? Speak with a Ponzi Scheme Lawyer Today 

Were you a victim of the Financial Visions Ponzi scheme? If you or a loved one has lost money as a result of a scheme, speak to an experienced ponzi scheme attorney today. Dimond Kaplan & Rothstein, P.A. has vast experience with cases related to Ponzi schemes. The firm has successfully represented numerous victims and we will aggressively pursue claims to recover your losses. 

Contact Dimond Kaplan & Rothstein Attorneys 

To schedule an appointment for a FREE case evaluation, contact a Ponzi Scheme attorney at Dimond Kaplan & Rothstein, P.A. today. 

With offices located in  Los AngelesNew YorkDetroitWest Palm BeachNaples, and Miami we represent clients nationwide. Translation services are available. Translation services are available, hablamos Español / hablamos Portugues.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
Available by Appointment
14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182