UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs AJN Investments, LLC and Jason Adam Ogden

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

vs.

AJN Investments, LLC and Jason Adam Ogden

Filing Date:December 28, 2016

Case:Securities and Exchange Commission vs. AJN Investments, LLC and Jason Adam Ogden

Jurisdiction:Federal District Court for the Southern District of Florida

Status:Pending

Civil / Criminal:Civil

Cause(s) of Action:

Breach of Contract

Description:

Instead, Ogden used investor funds for various undisclosed purposes, including funding lawsuit settlements and loans unrelated to AJN, paying management fees to Seekem, Inc. (the Ogden-controlled managing member of AJN), and funding AJN payroll and other operating expenses. Ogden also changed AJN’s business plan mid-stream to focus on building less costly, less profitable kiosks, but continued to solicit investors with the stale offering materials and, later, a revised economic impact analysis based on untrue cost and revenue assumptions. By failing to use investor funds for construction costs as contemplated by the offering materials and by failing to meet the unrealistic revenue projections underlying the economic impact analyses, Ogden jeopardized AJN investors’ ability to create the necessary jobs to obtain a green card under the EB-5 program.

Files
Dec
29
2016

Securities and Exchange Commission vs. AJN Investments, LLC and Jason Adam Ogden

Instead, Ogden used investor funds for various undisclosed purposes, including funding lawsuit settlements and loans unrelated to AJN, paying management fees to Seekem, Inc. (the Ogden-controlled managing member of AJN), and funding AJN payroll and other operating expenses. Ogden also changed AJN’s business plan mid-stream to focus on building less costly, less profitable kiosks, but continued to solicit investors with the stale offering materials and, later, a revised economic impact analysis based on untrue cost and revenue assumptions. By failing to use investor funds for construction costs as contemplated by the offering materials and by failing to meet the unrealistic revenue projections underlying the economic impact analyses, Ogden jeopardized AJN investor's ability to create the necessary jobs to obtain a green card under the EB-5 program.

comp23714.pdf
Attorneys, Regional Centers and Firms
UNITED STATES SECURITIES AND EXCHANGE COMMISSIONTimothy L. Evans

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