John K. Marcum & Guaranty Reserves Trust
For clients of John K. Marcum and Guaranty Reserves Trust legal options exist for the recovery of ponzi scheme related losses. This week, the SEC charged Noblesville, Ind., resident Marcum and Guranaty reserves Trust with defrauding investors in a classic ponzi scheme. John Marcum touted himself as a successful trader and asset manager and used these representations to raise more than $6 million through promissory notes issued by his Guaranty Reserves Trust. Marcum helped investors set up self-directed IRA accounts and gained control over their retirement assets, saying he would earn them strong returns on the promissory notes by day-trading in stocks while guaranteeing the safety of their principal investment. Yet Marcum did little actual trading and almost always lost money when he did. Throughout his scheme, Marcum provided investors with false account statements showing annual returns of more than 20 percent. Meanwhile, he used investor funds to pay for his luxurious personal lifestyle and finance several start-up companies.
We are investigating multiple targets for investors who have been burned through Marcum and Guaranty Reserves Trust. Arbitration claims or lawsuits might be an option for recovering investment losses/ponzi related losses. To learn about legal options for Marcum related activities, please call our law firm in Chicago, Illinois for a no cost review.