Adviser Charged With Defrauding Investors in 2 Real Estate Funds

Allison Tussey —  June 16, 2011 — 1 Comment

Lloyd V. Barriger, Monticello, N.Y., an investment adviser, was charged with fraudulently offering and selling securities in two upstate New York real estate funds he managed. The allegations include that Barriger told investors in the Gaffken & Barriger Fund (G&B Fund) that it was a relatively safe and liquid investment that generated a minimum return of 8 percent per year. However, the fund’s actual performance did not justify these performance claims. The charges further alleges that Barriger defrauded investors in Campus Capital Corp. by raising money from them to prop up the ailing G&B Fund without disclosing that was how their money was actually being used. Barriger also caused Campus to engage in other transactions that personally benefitted him, unbeknownst to Campus investors.

The Securities and Exchange Commission filed the complaint against Barriger.

The SEC acknowledges the assistance of the U.S. Attorney’s Office for the Southern District of New York and the Federal Bureau of Investigation.

 

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Allison Tussey

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One response to Adviser Charged With Defrauding Investors in 2 Real Estate Funds

  1. AHMED MOUJAHID June 17, 2011 at 3:59 am

    hi my name Alex i like to get some inf regarding the mortgage i have armed rate
    no explanation when i sing the dog paper
    any quetion this my number 310-350-8951
    ahmed

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