The Securities and Exchange Commission accuses three Texas men of running a Ponzi scheme that raised at least $91 million from over 200 investors.
Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all of Dallas-Fort Worth, have been charged with violating federal securities law’s antifraud and registration rules, according to an SEC news release.
Alexander and Welsh executed the scheme from May 2021 to February 2024 via Vanguard Holdings Group Irrevocable Trust, which Alexander controlled, according to authorities. According to the SEC, the pair promised investors 12 guaranteed monthly payments ranging from 3% to 6%, and the money would be restored after 14 months. According to officials, Alexander and Welsh claimed that VHG was a very profitable worldwide bond trading firm with billions of dollars in assets that earned returns via bond trading and related activities…