UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Idaho State Regional Center

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PlaintiffsDefendants

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

vs.

Preview screen shot 02 25 14 at 10.55 am
Idaho State Regional Center

SEROFIM MUROFF, BLACKHAWK MANAGER, LLC, ISR CAPITAL, LLC, EQUITY RECAP ACCOUNT, LLC and DEBRA L. RIDDLE

Filing Date:April 28, 2017

Case:Securities and Exchange Commission Vs. Idaho State Regional Center

Jurisdiction:Federal District Court for the District of Idaho

Status:Pending

Civil / Criminal:Civil

Cause(s) of Action:

Fraud

Description:

Although Muroff invested some of the money raised through the Funds for the purposes described in the offering materials—a real estate development and gold mining ventures—Muroff, through Blackhawk Manager and ISR Capital, misappropriated and misused investor funds from both offerings. Muroff used a total of approximately $5 million for personal purposes, including $1.1 million to purchase two residential properties, $423,000 to invest in a zip line operation in Washington state, $47,000 to purchase a Range Rover, $40,000 to purchase a BMW, and $97,000 for personal living expenses. He engaged in a series of acts designed to hide his misappropriation from both investors and USCIS, including secretly using investor funds to purchase the real estate and mining assets for himself and then “selling” them back to investors at an inflated price so he could pocket the profit.

Files
Apr
29
2017

Securities and Exchange Commission Vs. Serofim Muroff

secv-170428211437.pdf
Attorneys, Regional Centers and Firms
Steve D BuchholzIdaho State Regional Center

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