The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against
a Detroit woman for her alleged involvement in an investment scam that
took in over $1 million. The lawsuit was filed on Wednesday, August 4,
2010, in federal court.
According to the SEC, the lawsuit is intended to shut down C.J.’s
Financial, which is run by Candice Campbell, of Canton Township. The suit
alleges that the investment scheme operated by Ms. Campbell generated
more than $1 million in only 13 months.
The SEC claims that Ms. Campbell offered unsuspecting investors a 10 percent
monthly return on their investment. However, the suit alleges that Ms.
Campbell actually used the money for vacations, jewelry, cars, laser surgery
and other luxuries.
Regulators state that the woman used some of the money to return to investors
to pacify them. The SEC has described the scam as a typical
According to reports, the Detroit woman has not yet commented on the lawsuit
filed against her.