The former CEO of NutraCea will be facing securities fraud charges after
allegedly defrauding investors. An investment fraud attorney reports.
Bradley David Edson, former CEO of NutraCea, is facing fraud charges related
to an alleged investment fraud scam. NutraCea is based in Scottsdale,
Arizona, and deals in products made of stabilized rice bran. Edson joined
NutraCea in 2005 and was also formerly president and CEO of Vital Living,
a position that he held from 2001 – 2004. The arraignment in this
case has been scheduled for May 2, 2012, in Phoenix.
According to federal prosecutors in the case, Edson was responsible for
artificially inflating NutraCea’s stock prices in order to defraud
investors. Edson allegedly had a hand in fraudulently inflating sales
and net profit by $750,000 for 2006 and more than $3.5 million in 2007.
The company allegedly reported these inflated profits and sales in news
releases, which also omitted information related to the company’s
There were also issues with how income was recorded for some sales and
the collection of a $600,000 debt-acquisition kickback by Edson.
If you have lost money to a
Ponzi scheme, securities fraud, stockbroker misconduct, or any other kind of financial
fraud, don’t hesitate to speak with an experienced
investment fraud attorney about your situation. The securities fraud attorneys with Meyer Wilson
represent investors nationwide in
stockbroker mediation, arbitration, and litigation in order to recover investment losses.
For more information about what to do after you have been taken in by
financial fraud or stockbroker misconduct, request your FREE copy of David
P. Meyer’s helpful book
Five Signs of Investment Fraud …And What to Do if it’s Happened to You.