UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs AJN Investments, LLC and Jason Adam Ogden
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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
Breach of Contract
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.
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
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