Izak Zirk De Maison of Redland Hills, California and Seattle has been charged
with running an investment scheme that caused $27 million in investor losses.
Federal authorities filed a
criminal complaint in the U.S. District Court for the Northern District of Ohio against Izak
Zirk De Maison accusing him of running a large investment scheme. De Maison
faces multiple criminal charges for alleged violations occurring between
September 28, 2006 and September 18, 2014, including –
- Conspiracy to commit securities fraud – 1 count
- Securities fraud and related violations – 2 counts
- Wire fraud – 4 counts
De Maison, who also went by the names Izak Zirk Engelbrecht and Zirk Engelbrecht,
allegedly created and controlled various companies that he used to run
his scheme. Those companies’ names are –
- Lenco Mobile
- Kensington Leasing
- Casablanca Mining
- Lustros, Inc.
- Gepco Ltd.
According to the FBI, Cleveland Division:
It was a part of the scheme that De Maison issued millions of shares of
the companies to himself and his co-conspirators at little or no cost
and then artificially pumped the price and inflated the trading volume
of the stocks through manipulative trading techniques, such as match trades,
wash trades, and marking the close trades, according to the information.
De Maison was not a broker himself, but he allegedly used brokers to peddle
his shares in the companies to victim clients and investors, and paid
these co-conspirators undisclosed commissions for selling off his shares
at the inflated prices. Once such broker is Stephen J. Wilshinksy of Marquis
Financial Services, but the complaint claims that numerous other brokers
and investment advisors were involved.
Contact an investment fraud lawyer at Meyer Wilson today if you invested
with one of De Maison’s companies. We help investors recover losses
caused by investment fraud and misconduct, so contact us for a
free review of your case to learn your legal rights and options.