jonathan maroney

The Securities and Exchange Commission (“SEC”) announced on April 26, 2021, that it filed an emergency action and obtained an asset freeze to stop an alleged ongoing fraudulent Ponzi scheme.  The SEC claims that from 2015 to 2021, Harbor City Capital Corp. (“Harbor City”) and its founder and CEO, Jonathan P. Maroney raised more than $17.1 million from over 100 investors through unregistered, fraudulent securities offerings. The defendants originally sold the securities as promissory notes and agreements, offering investors 2%-6% in interest rates for 12-36 months. The investors were promised a full return on their investment principal. The defendants solicited money through Harbor City’s website and online marketing videos posted to YouTube and social media platforms like Facebook. The investors were told in the marketing videos that their money would be used to fund Harbor City’s lead generation business which the SEC claim describes as the process of capturing online interest in a service or product for the purpose of [...]