Jacko Law Group, PC
Call Today for a Consultation
619-298-2880 415-766-3599

Purported “Angel” Investor Defrauded Investors Out of Millions

images4TALPFX0Last week, Alberto Chang-Rajii and his asset management company, Onix Capital LLC, were charged with fraud by the SEC. Using false claims of Chang’s wealth and investment success as an award-winning multi-millionaire “angel” investor, Chang and Onix apparently defrauded investors out of millions of dollars. In addition to the claims of fraud, the SEC announced an asset freeze against the Miami Beach-based company and its owner. Allegedly, Chang and Onix Capital sold more than $5.7 million in Onix promissory notes that “guaranteed” annual returns of 12 to 19 percent and raised more than $1.7 million in investor funds. Chang represented that these funds would be invested in promising companies including Uber, Snapchat and Square. However, instead of doing as promised, the SEC accused Chang of diverting the funds to pay other investors.Earlier this year, after reports were published in the U.S. and Chile, where Chang is from, that exposed the false claims, Chang transferred approximately $4 million to banks in the United Kingdom, Switzerland, Australia, and Malta, where he fled after he left the United States.According to Glenn Gordon, Associate Director of the SEC’s Miami Regional Office, “Once the defendants’ alleged misrepresentations were exposed, they stopped paying investors and shifted millions of dollars of investor assets offshore.”As a result of the fraudulent activities, the SEC is seeking to have Onix and Chang return all allegedly ill-gotten gains, prejudgment interest, and financial penalties, as well as other relief for investors.Cases like this one serve as a reminder to investors to perform thorough due diligence when researching and vetting investment opportunities. For more information on how Jacko Law Group, PC can help you take steps to avoid investor fraud, contact us at (619) 298-2880, or email info@jackolg.com.  Thank you.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help?

Email us to request more information or to schedule an appointment.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

San Diego Office
1350 Columbia Street
Suite 300
San Diego, CA 92101

Toll Free: 866-497-2298
Phone: 619-298-2880
Fax: 619-298-2882
Map & Directions

San Francisco Office
Four Embarcadero Center
Suite 1400
San Francisco, CA 94111

Phone: 415-766-3599
Fax: 619-298-2882
Map & Directions

Los Angeles Office
535 N. Brand Boulevard
Suite 279
Glendale, CA 91203

Phone: 619-717-2564
Fax: 619-298-2882
Map & Directions