"This case concerns a long-running fraudulent offering of securities perpetrated by Defendants Matthew Wade Beasley, Esq., his law firm Beasley Law Group PC (“Beasley Law Group”), Jeffrey Judd, Christopher Humphries, and three entities that Judd controlled: J&J Consulting Services, Inc. (a Nevada corporation), J&J Consulting Services, Inc. (an Alaska corporation), and J and J Purchasing LLC (unless otherwise noted, collectively, the “J&J Entities”), a scheme for which Judd, Humphries, and Defendants Shane M. Jager, Jason M. Jongeward, Denny Seybert, Roland Tanner, and others acted as promoters."
"From at least 2017 to March 2022, over 600 investors invested in the scheme, and it appears that at least $449 million in investor funds flowed into the scheme through Beasley Law Group’s attorney trust (“IOLTA”) account at Wells Fargo, N.A." "On March 3, 2022, agents from the Federal Bureau of Investigation (“FBI”) executed search warrants at the homes of Judd, Humphries, and Beasley. When agents arrived at Beasley’s home, Beasley brandished a pistol and the agents shot him twice. Beasley then locked himself inside his home for nearly four hours. During that standoff, Beasley repeatedly confessed to an FBI negotiator that the J&J Entities’ investment scheme was actually a Ponzi scheme that started in 2016 or 2017. " Read the Full Complaint Filed by the SEC on 12 April 2022:
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