NAPLES, FLORIDA: In a shocking revelation, the Securities and Exchange Commission (SEC) has announced that Brent Seaman, a currency trader hailing from Naples, Florida, is facing charges for orchestrating a Ponzi scheme that allegedly defrauded at least 60 investors out of approximately $35 million. According to the SEC's press release, the victims primarily consisted of elderly and retired individuals associated with a Naples church, where Brent was an active member.
Brent Seaman provided unregistered securities offerings with claimed annual returns of 18 to 48 percent
The charges against Brent that were made public on Thursday, July 27, sent shockwaves through the local community as the scale of the alleged fraud came to light. As of now, the SEC's complaint accuses Brent of conducting an unregistered securities offering that promised annual returns of 18 to 48 percent. He purportedly convinced investors that their money would be invested in technology companies as well as utilized for currency and commodities trading. These representations were nothing more than fabrications, as Brent's currency trading was consistently unprofitable, according to SEC's complaint.
Furthermore, the allegations paint a shocking picture of Brent's actions, asserting that he misled investors by touting his success in currency trading when, in reality, he was losing millions of dollars of their money. It is also claimed that he misappropriated millions of dollars for his personal use, spending the funds on lavish expenses such as luxury automobiles and private plane trips. The findings reveal that the accused also made Ponzi-like payments to investors, employing funds from new investors to pay back earlier ones. Notably, this classic hallmark of a Ponzi scheme is known to create a mirage of success while siphoning off funds to the perpetrator.
Who is Brent Seaman?
Brent presents himself as a successful entrepreneur in his LinkedIn profile, listing himself as the founder and CEO of Accanito Capital Group, a private equity firm primarily investing in technology companies. The profile also indicates that he was an executive board member at Surge Data, a Naples-based company specializing in providing targeted decision-maker data to its clients. Moreover, Brent describes himself as "a connector of people" and someone "obsessed with the mission."
Previous records indicate that Brent was involved in various legal matters prior to the Ponzi scheme allegations. A civil suit was filed against him in March by Naples resident Katie T Gover, who claimed to have sustained injuries in a vehicle crash allegedly caused by him. Court records also reveal that he had disputes with Capital One Bank and Cach LLC, which were settled in the past.
Consequences of Brent Seaman's act extend to his family
The fallout from the charges extends to Brent's family, with his wife, Jana Seaman, being named in the complaint as a relief defendant. She reportedly agreed to pay back over $757,000, which was allegedly obtained from the Ponzi scheme. Brent's online persona, as seen on his social media accounts, portrayed him as a knowledgeable and skilled professional, boasting about his "industry knowledge," "tools and technologies," and "interpersonal skills."
As the SEC continues its investigation, the case serves as a stark reminder of the risks vulnerable investors face from fraudulent schemes. The charges against Brent highlight the importance of regulatory vigilance and investor education to protect individuals from falling victim to financial fraud. "This action reflects a deep commitment to pursue those who prey on vulnerable investors," Eric I Bustillo, Director of the SEC’s Miami Regional Office, noted in the release.
