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SEC Press Releases·

SEC Charges South Florida Resident and His Company for Alleged Investment Scheme Defrauding Law Enforcement

  • The SEC charged CMI Capital LLC and founder Michael D. Williams with a fraudulent scheme raising ~$860,000 from at least 18 investors, many being current or retired South Florida law enforcement officers.
  • Williams, who managed a third-party police & firefighter pension plan, allegedly used cropped screenshots of fake profits to mislead clients into investing in two funds he controlled between October 2023 & August 2024.
  • Defendants agreed to a bifurcated settlement subject to court approval, without admitting allegations, while facing permanent injunctions against violating federal securities laws.
  • Williams allegedly misappropriated ~$384,000 for personal expenses like credit cards, a sports car, & vacations but has since repaid over $375,000 to certain investors starting August 2024.
  • Proposed judgments include disgorgement with prejudgment interest against Williams, civil penalties against both defendants to be determined by the Court, & an associational bar preventing Williams from issuing or selling securities.