The Securities and Exchange Commission has charged San Antonio, Texas-based investment adviser Robert J. Mueller with operating a years-long fraudulent scheme that raised approximately $58 million from nearly 300 investors in two investment funds.
Mueller's company, deeproot Funds, “designs, administers and manages alternative private equity and debenture funds,” according to its website.
The SEC alleges that Mueller and deeproot operated two pooled investment funds and persuaded clients, many retirees, to cash out annuities and invest the money in the two funds.
The SEC is seeking civil penalties, disgorgement of ill-gotten gains with interest and permanent injunctions.
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