If you were an investor with Jeffrey Risinger at any time or more recently with PIN Financial, please call 1-866-817-0201 (toll-free).
Financial industry regulators have permantly barred Risinger, a Fishers broker alleged to have participated in a Ponzi scheme, from working in the financial brokerage industry thus prohibiting Risinger from ever again working in the securities industry in any capacity. The sanction follows claims Risinger and two others operated a multimillion-dollar Ponzi scheme.
Risinger is also the subject of a civil suit filed by the U.S. Securities and Exchange Commission (SEC) concerning alleged fraudulent representations made to investors. He has also recently been terminated from his employment at PIN Financial.
FINRA said its action resulted from Risinger’s refusal to provide on-the-record testimony related to the allegations. The case, which is ongoing, alleges the Risinger and his two accomplices raised $15 million from 80 investors in 2013 and 2014 to fund farm operating loans. When loans soured, the perpetrators repaid old investors with new investor money, the SEC said, creating a classic Ponzi scheme.
Carmel-based Veros Partners principal Matthew D. Haab and former stockbroker Tobin J. Senefeld are the other defendants.
Information for this post has come in part from the Indianapolis Business Journal.