Kinetic Advisor Misrepresented Funding Diversion, Court Says – Bloomberg Law News
The US Securities and Exchange Commission recently confirmed that Michael Scott Williams, the founder of Kinetic Investment Group LLC, engaged in deceptive practices that misled investors and misused funds in an unregistered securities offering. This was determined by Judge Mary S. Scriven of the US District Court for the Middle District of Florida in a recent order.
Williams is facing potential penalties, disgorgement, and injunctive relief as a result of these actions. The SEC successfully argued its case against Williams, highlighting multiple misrepresentations made to investors and improper use of funds, all in violation of securities laws.
The specific amount Williams will have to repay in disgorgement and interest, as well as any additional penalties or relief measures, will be decided in the near future. This case serves as a reminder to investors to always be cautious and do thorough research before investing in any opportunities.
