By Lauren Berg (April 13, 2022, 7:15 PM EDT) — A lawyer shot by FBI agents last month was involved in a Ponzi scheme that raised $449 million from investors who thought they were buying interests in insurance tort settlements, using the money to fund his “lavish lifestyle,” the U.S. Securities and Exchange Commission has said in a Nevada federal lawsuit.
Attorney Matthew Wade Beasley, his firm Beasley Law Group PC and nine other people and entities conspired to convince at least 600 investors to buy interests in insurance tort settlements for an annual return of 50%, but those purchase agreements were phony, according to the SEC’s complaint filed Tuesday.
Instead, Beasley and the others used…
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