SEC Files Securities Fraud Lawsuit Against Two Sacramento Men For Misappropriating $10 Million From Investors

Today, the Securities and Exchange Commission (SEC) filed a securities fraud lawsuit in Sacramento federal court charging two Sacramento-area men with the misappropriating approximately $10 million from over 100 investors who were falsely promised that the funds were safe, liquid, high-yield investments that were secured by deeds of trust. Charged in the complaint were Lawrence “Lee” Loomis, John Hagener, Loomis Wealth Solutions, LLC (“LWS”), and Lismar Financial Services, LLC.

The SEC has requested monetary penalties, disgorgement of ill-gotten gains and injunctive relief. Click here to download the SEC’s complaint.