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Injunction, ponzi allegations 06/13/12 6:30p.m. TDH

A preliminary injunction has been issued against a scotts valley man in response to allegations that he was involved in fraud.  The injunction was granted by a federal judge at the request of the securities and exchange commission.   The action bars john geringer from conducting further business related to G-L-R growth fund, and freezes all financial accounts associated with the investment fund.    geringer is accused in an S-E-C lawsuit of using the fund to run a ponzi-scheme, where he paid investors with money from newer investors, instead of actually making a profit with his clients’ money.   Geringer has not yet formally responded to the S-E-C’s allegations.

 

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