SEC Charges South Florida Resident and His Company for Alleged Investment Scheme Defrauding Law Enforcement
The Securities and Exchange Commission today charged CMI Capital LLC and its founder and manager, Michael D. Williams, for an alleged fraudulent investment scheme that raised approximately $860,000 from at least 18 investors, many of whom are current or…
The Securities and Exchange Commission (SEC) has accused Michael D. Williams and his company, CMI Capital LLC, of running a fraudulent investment scheme that defrauded law enforcement officers in South Florida. The SEC filed charges against the defendants, alleging that they raised roughly $860,000 from at least 18 investors through false and misleading statements between October 2023 and August 2024.
Williams, who resides in Port St. Lucie, Florida, allegedly made false claims about the performance of two funds he managed, encouraging investors with promises of returns exceeding 140 percent. The SEC's complaint suggests that Williams sent recipients cropped screenshots of graphics illustrating exorbitant trading profits. Additionally, Williams allegedly misappropriated around $384,000 of investor funds for personal use, including credit card debts, a sports car, and vacations.
As part of a settlement, Williams and CMI Capital agreed to a court injunction prohibiting them from violating federal securities laws and from issuing or selling securities in the future, with the court also ordering Williams to pay disgorgement with prejudgment interest and civil penalties.
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