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A Creative Capital Concept$, LLC and Creative Capital Consortium, LLC. may have been a ponzi scheme and an investment scam.
Investigation Source (Case #08-cv-81560)
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Scams (Including Madoff)
- Unregistered Investments
- Private Placement
- Insider Selling/Undisclosed Related Party Transactions
- Unregistered Securities
Products or Services
- Private Securities
- Hedge Funds
Injury Type
- Monetary Loss
Investigation Details
This is a pending class action lawsuit against A Creative Capital Concept$, LLC and Creative Capital Consortium, LLC.
George Theodule is a confidence man. In 2007 through the first half of 2008, he applied is wares to the Haitian communities in Florida and Georgia and other states. Apparently, Theodule set up "investment clubs" and sold interests in those clubs in individual investors. Two such clubs are named defendants, A Creative Capital Concept$, LLC and Creative Capital Consortium, LLC.
Account statements were routinely sent out to investors, showing wonder gains. In fact, the entire investment was a ponzi scheme, with Theodule using new investor money to repay earlier investors. Once investors started asking for their money back in bulk, the ponzi scheme collapsed.
Today, many hundreds if not thousands of investors are broke, some having lost their entire life savings to this man.
George Theodule is a confidence man. In 2007 through the first half of 2008, he applied is wares to the Haitian communities in Florida and Georgia and other states. Apparently, Theodule set up "investment clubs" and sold interests in those clubs in individual investors. Two such clubs are named defendants, A Creative Capital Concept$, LLC and Creative Capital Consortium, LLC.
Account statements were routinely sent out to investors, showing wonder gains. In fact, the entire investment was a ponzi scheme, with Theodule using new investor money to repay earlier investors. Once investors started asking for their money back in bulk, the ponzi scheme collapsed.
Today, many hundreds if not thousands of investors are broke, some having lost their entire life savings to this man.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| A Creative Capital Concept$, LLC | A Creative Capital Concepts operates investment clubs. |
| Creative Capital Consortium, LLC | On December 29, 2008, the SEC obtained temporary restraining orders and asset freezes against Creative Capital Consortium, LLC and A Creative Capital Concept$, LLC, and its principal, George L. Theodule, in connection with an alleged Ponzi scheme and affinity fraud. According to the complaint, the defendants fraudulently raised at least $23.4 million from thousands of investors in the Haitian-American community nationwide through a network of purported investment clubs. |