Previously registered broker Isaiah Goodman (also know as Isaiah Leslie Goodman) is the subject of an SEC complaint alleging he stole approximately $2.25 million from at least 20 of his advisory clients, according to an investigation by investor rights attorney Alan Rosca. In addition, the previously registered broker has been charged with defrauding clients, according to a February 8, 2021 press release issued by the U.S. Attorney’s Office for the District of Minnesota.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating allegations of fraud against broker Isaiah Goodman. Investors who believe they may have suffered a loss with Goodman may contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options. Interested investors may call 888-998-0530, send an email to arosca@rscounsel.law, or through the contact form on this page.
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The SEC Filed a Complaint Against Isaiah Goodman
The Securities and Exchange Commission (SEC), alleges Isaiah Leslie Goodman stole approximatively $2.25 million from at least 20 of his advisory clients between 2018 and 2020 according to the February 2, 2021 SEC Complaint.
Former broker Isaiah Goodman, doing business through Becoming Financial Advisory Services, LLC, allegedly misrepresented to his clients that he would invest their funds in securities such as mutual funds and stocks for their retirement and investment accounts. Instead, he misappropriated the funds and used the money for his own personal and business expenses including a home renovation, building expenses, car payments, vacations, and other luxury items, as alleged in the complaint.
The Complaint further alleges that Goodman created and provided fake account statements and computer screenshots to further his fraud and deceive his clients, and to give the appearance that his client’s funds were invested properly. Additionally, two clients allegedly received several screenshots from Goodman falsely showing that their investment grown. Two clients transferred money via wire transfer, Automated Clearing Housing transfer, or by writing a check to Becoming Financial, a bank account owned by Goodman.
Furthermore, Goodman allegedly made $13,000 worth of Ponzi-like payments to certain clients after receiving new investments from other clients, as stated in the complaint. As a result of his alleged misconduct, the United States Attorney’s Office District of Minnesota has charged broker Isaiah L Goodman with one count of mail fraud.
Criminal Allegations
According to the announcement made by the United States Attorney Erica H. MacDonald, the previously registered broker Isaiah Leslie Goodman was charged with one count of mail fraud. The quoted information also states that in addition to Becoming Financial Advisory Services, Goodman also owned Becoming Financial Group and operated MoneyVerbs.
The State further alleges that between 2017 and end of 2020, Isaiah Goodman defrauded 23 clients with the alleged damages amounting to $2,250,123. The investor funds were reportedly used to remodel Goodman’s home in Maple Grove, to purchase a $1.69 million home in Plymouth, and to funnel $700,00 to MoneyVerbs, among others, the press release states.
Investors who are concerned they lost money with Goodman may contact attorney Alan Rosca for a free, no-obligation case evaluation and discussion of potential options, or to provide any useful information, toll free at 888-998-0530, via email at arosca@rscounsel.law, or complete the contact form on this webpage.
Isaiah Goodman Barred by the SEC
The SEC has barred Isaiah Leslie Goodman for his alleged scheme to defraud at least 20 of his advisory clients, as stated previously. Broker Isaiah Goodman’s bar has been in effect since March 22, 2021. He has been barred indefinitely from registering with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, and NRSRO according to his Brokercheck page.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Investor Rights Attorneys May Be Able to Help
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to broker Isaiah Goodman’s alleged scheme to defraud his clients of over $2 million.
The firm takes cases of this type on a contingency fee basis; there are no fees or costs if no recovery; firm advances costs and investor is required to pay only if there is a recovery. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases arising out of investment-related misconduct or fraud.
Investors who believe they lost money as a result of broker Isaiah Goodman’s alleged scheme to defraud at least 20 of his advisory clients may contact Alan Rosca for a free, no obligation evaluation of their potential options, by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
