February 2017-Dallas, Texas
Patrick O. Howard and two companies he controls, Optimal Economics Capital Partners and Howard Capital Holdings were named in a complaint filed by The Securities and Exchange Commission (SEC) on February 14, 2017.
The complaint alleges that since February 2015, Howard and his companies have raised about $13 million from 119 investors through the fraudulent offer and sale of interests in three private funds which promised returns ranging from 12%-20% annually. Investors were also promised minimal risk.
According to the SEC only about $7.5 million was actually used for investment purposes and the balance was used on Howard’s personal expenses. The SEC alleges that Optimal Economics made Ponzi payments using to new investor funds to pay earlier investors.
Victims who made investments as a result of a recommendation from a registered financial advisor may be able to recover damages through FINRA arbitration. Call to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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