SEC v. Scott Jeffrey Mason; Rubicon Wealth Management, LLC; and Orchard Park Real Estate Holdings LLC, No. LR-26224, Eastern District of Pennsylvania (Jan. 17, 2025) — Press Release
raw: Scott Jeffrey Mason; Rubicon Wealth Management, LLC; Orchard Park Real Estate Holdings LLC
Scott Jeffrey Mason; Rubicon Wealth Management, LLC; Orchard Park Real Estate Holdings LLC, No. 2:25-cv-00292 (Jan. 17, 2025)
summary
Investment adviser Scott J. Mason and his companies misappropriated over $20 million from 13 clients to fund personal expenses, resulting in consented final judgments and parallel criminal charges.
paragraph
Scott J. Mason and his entities, Rubicon Wealth Management and Orchard Park Real Estate Holdings, are charged with misappropriating more than $20 million from at least 13 clients between 2014 and 2024. The SEC complaint alleges Mason used the funds for personal expenses such as country club dues and a miniature golf course through forged signatures and fake documents. The defendants face violations of the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940.
narrative
The SEC charged investment adviser Scott J. Mason and his companies, Rubicon Wealth Management, LLC and Orchard Park Real Estate Holdings LLC, with misappropriating over $20 million from at least 13 clients. Between 2014 and 2024, Mason allegedly used unauthorized transfers to fund personal expenses, including country club dues and a New Jersey miniature golf course. To conceal the fraud, Mason forged client signatures and provided falsified account statements and tax documents. The defendants face charges for violating the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. Mason and his entities have consented to final judgments that permanently enjoin future violations, with specific penalties to be determined by the court. Additionally, the U.S. Attorney’s Office for the Eastern District of Pennsylvania has initiated parallel criminal charges against Mason.
Classified investment-adviser-fraud(confidence 100%). EDGAR detection: forms ADV/ADV-E/ADV-W/Form D· recall 33% / precision 13%. detection rule →
Statutes
Parties
Securities and Exchange CommissionScott Jeffrey MasonOrchard Park Real Estate Holdings LLCRubicon Wealth Management, LLC
Keywords
masonorchard parkrubiconmason rubiconsecurities exchangescottllcorchardparksecclientsscott jeffreyjeffrey masonrubicon wealthwealth management
Extracted insights
Dollar amounts 2
- $20.00M $20 Million $10M–$100M
- $20.00M $20 million $10M–$100M
Entities 6
- person criminal charges against mason
- person gregory r. bockin
- agency sec’s complaint
- agency sec’s investigation
- agency Securities and Exchange Commission
- person spencer willig
Triples 15
- Securities And Exchange Commission charged Scott J. Mason and his companies Rubicon Wealth Management, LLC and Orchard Park Real Estate Holdings LLC with misappropriating more than $20 million from at least 13 Rubicon advisory clients
- Mason made unauthorized transfers of money from Rubicon clients’ accounts to his own accounts and those of his entities Rubicon and Orchard Park
- Mason used the money to pay country club dues, transfer it to other clients, and purchase a portion of a miniature golf course in New Jersey
- Mason forged clients’ signatures
- Mason made numerous misrepresentations about what he was doing with clients’ money
- Mason concealed his fraud for years by providing fake account statements and tax documents
- SEC’s Complaint charges Mason, Rubicon, and Orchard Park with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
- SEC’s Complaint charges Mason and Rubicon with violating Sections 206(1) and (2) of the Investment Advisers Act of 1940
- Mason, Rubicon, and Orchard Park have consented to the entry of final judgments that permanently enjoin them from committing future violations of those provisions
- U.S. Attorney’s Office For The Eastern District Of Pennsylvania announced criminal charges against Mason
- SEC’s Investigation was conducted by Laura E.L. Gavin, Brian P. Thomas, and Norman P. Ostrove in the SEC’s Philadelphia Regional Office
- SEC’s Investigation was supervised by Scott a. Thompson and Nicholas P. Grippo in the Philadelphia Regional Office
- The Litigation will be led by Spencer Willig
- The Litigation will be supervised by Gregory R. Bockin
- Securities And Exchange Commission appreciates the assistance of the United States Attorney’s Office For The Eastern District Of Pennsylvania and the FBI
Extracted body text (2,524c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26224 / January 17, 2025 Securities and Exchange Commission v. Scott Jeffrey Mason, et al, 2:25-cv-00292 (E.D. Pa. filed Jan. 17, 2025) SEC Charges Pennsylvania Investment Adviser Scott Mason With Misappropriating More Than $20 Million from Advisory Clients The Securities and Exchange Commission today charged former Pennsylvania-based investment adviser Scott J. Mason, and his companies Rubicon Wealth Management, LLC and Orchard Park Real Estate Holdings LLC, with misappropriating more than $20 million from at least 13 Rubicon advisory clients. According to the SEC’s complaint, from at least 2014 to 2024, Mason made unauthorized transfers of money from Rubicon clients’ accounts to his own accounts and those of his entities, Rubicon and Orchard Park. As the complaint alleges, Mason used the money for his own purposes, including to pay country club dues, transfer it to other clients, and purchase a portion of a miniature golf course in New Jersey. The complaint further alleges that Mason forged clients’ signatures, made numerous misrepresentations about what he was doing with clients’ money, and concealed his fraud for years by providing fake account statements and tax documents. The SEC’s complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, charges Mason, Rubicon, and Orchard Park with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charges Mason and Rubicon with violating Sections 206(1) and (2) of the Investment Advisers Act of 1940. Mason, Rubicon, and Orchard Park have consented to the entry of final judgments that permanently enjoin them from committing future violations of those provisions and provides that the court will decide the amounts of disgorgement, prejudgment interest, and civil penalties at a later date. The settlement is subject to court approval. In a parallel action, the U.S. Attorney’s Office for the Eastern District of Pennsylvania today announced criminal charges against Mason. The SEC’s investigation was conducted by Laura E.L. Gavin, Brian P. Thomas, and Norman P. Ostrove in the SEC’s Philadelphia Regional Office. It was supervised by Scott A. Thompson and Nicholas P. Grippo in the Philadelphia Regional Office. The litigation will be led by Spencer Willig and supervised by Gregory R. Bockin. The SEC appreciates the assistance of the United States Attorney’s Office for the Eastern District of Pennsylvania and the FBI.
OCR text (2,524c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26224 / January 17, 2025 Securities and Exchange Commission v. Scott Jeffrey Mason, et al, 2:25-cv-00292 (E.D. Pa. filed Jan. 17, 2025) SEC Charges Pennsylvania Investment Adviser Scott Mason With Misappropriating More Than $20 Million from Advisory Clients The Securities and Exchange Commission today charged former Pennsylvania-based investment adviser Scott J. Mason, and his companies Rubicon Wealth Management, LLC and Orchard Park Real Estate Holdings LLC, with misappropriating more than $20 million from at least 13 Rubicon advisory clients. According to the SEC’s complaint, from at least 2014 to 2024, Mason made unauthorized transfers of money from Rubicon clients’ accounts to his own accounts and those of his entities, Rubicon and Orchard Park. As the complaint alleges, Mason used the money for his own purposes, including to pay country club dues, transfer it to other clients, and purchase a portion of a miniature golf course in New Jersey. The complaint further alleges that Mason forged clients’ signatures, made numerous misrepresentations about what he was doing with clients’ money, and concealed his fraud for years by providing fake account statements and tax documents. The SEC’s complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, charges Mason, Rubicon, and Orchard Park with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charges Mason and Rubicon with violating Sections 206(1) and (2) of the Investment Advisers Act of 1940. Mason, Rubicon, and Orchard Park have consented to the entry of final judgments that permanently enjoin them from committing future violations of those provisions and provides that the court will decide the amounts of disgorgement, prejudgment interest, and civil penalties at a later date. The settlement is subject to court approval. In a parallel action, the U.S. Attorney’s Office for the Eastern District of Pennsylvania today announced criminal charges against Mason. The SEC’s investigation was conducted by Laura E.L. Gavin, Brian P. Thomas, and Norman P. Ostrove in the SEC’s Philadelphia Regional Office. It was supervised by Scott A. Thompson and Nicholas P. Grippo in the Philadelphia Regional Office. The litigation will be led by Spencer Willig and supervised by Gregory R. Bockin. The SEC appreciates the assistance of the United States Attorney’s Office for the Eastern District of Pennsylvania and the FBI.