October 22, 2020

The former president of Hightower Capital Group (HCG) has been sentenced to nearly 16 years in prison and ordered to pay $9.6 million in restitution for running a Ponzi scheme that harmed investors, mostly family and friends, from 2013 to 2018.  Though barred from working as a broker in 2015, William Hightower managed to convince the investors to trust him with their retirement funds and life savings, which he then used to pay other investors and fund a lavish lifestyle for himself.  USAO SDTX

Tagged in: Financial and Investment Fraud, Ponzi Schemes,