September 16, 2014
Posted January 26, 2016
The SEC secured an emergency asset freeze againstAbatement Corp. Holding Company Limited, located in Turks and Caicos Islands, in connection with its operation of a South Florida-based Ponzi scheme. The SEC’s complaint alleged that Abatement Corp. and its now-deceased principal Joseph Laurer falsely promised investors safe, guaranteed returns while instead engaging in a Ponzi scheme. According to the SEC, Laurer, who was a member of the City of Homestead’s General Employee Pension Board and president of the South Dade chapter of AARP, raised more than $4.6 million from approximately 50 investors residing primarily in South Florida. SEC
Tagged in: Ponzi Schemes, Securities Fraud,