The Securities and Exchange Commission is calling out three men for a phony investment scheme in which the trio told prospective investors that they could recycle agricultural waste into environmentally friendly building materials. Glenn Camp, 59, of Thousand Oaks is among the three who are accused of securities fraud. Joshua Mosshart of Malibu and William J. Pfeiffer of Haddonfield, NJ are also named in the suit.
The SEC alleges that Pfeiffer and Camp, who were not registered with the Commission in any way compensated themselves with investor funds through their association with the Enviro Board Corporation. Camp founded the company in the early 1990’s, but was unsuccessful in marketing its technology.
Camp and Pfeiffer told investors that the company would be commercially successful within 18 months and stood to make more than $180 million in its first three years of operation. The pair also told investors that the company would earn millions of dollars in federal tax credits; that it had already produced more than $160 million in product; and that the company would receive vendor financing from another company owned by Pfeiffer.
Mosshart had securities licenses during the time in which investments were being solicited, and was named in the suit because he referred investors to the Enviro Board Corporation.
Securities Fraud Attorney
Investment fraud prosecutions can be complex because securities fraud schemes are often complex. If you’ve been accused of investment fraud or a related crime, you need the assistance of an experienced federal securities fraud attorney like Robert Helfend.
Securities fraud can be prosecuted civilly or criminally. In either case, you risk the loss of your professional credentials, your livelihood and your freedom. You need the assistance of an aggressive attorney who will defend you throughout the criminal process. Most investment fraud victims simply want their money back. An experienced criminal defense attorney can help make this happen.
Contact Robert Helfend or call toll-free at (800) 834-6434, (805) 273-5611, (310) 456-3317 or (818) 591-2809 for an immediate consultation on your Ventura County securities fraud case.
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