MEAD – Ann Vick, owner of mutual fund AMV Investments LLC, has agreed to pay about $1.2 million in fines and penalties after the U.S. Securities and Exchange Commission charged her with operated a “Ponzi-like” scheme that raised $3.2 million from approximately two dozen investors.

The lawsuit, filed in U.S. District Court, claims Vick “presented herself to investors as a consistently successful options trader and promised investors exorbitant investment returns” between 2018 and January. 2021.

The consistent returns never materialized and “Vick’s options trading resulted in a volatile mix of gains and losses,” according to the SEC.

“Significant losses” in 2020 led Vick to embezzle more than $570,000 in investor funds, according to the government.

AMV Investments LLC’s registration with the office of the Colorado Secretary of State lists Vick, who could not be reached for comment, as a registered agent and includes addresses in Loveland and Mead. Company registration is pending.

“Without admitting or denying the allegations contained in the SEC Complaint, Vick has consented to the entry of a judgment permanently enjoining him from future violations of the offending provisions and from participating in the offering or sale of any security, and compels him to pay restitution of $570,150 plus prejudgment interest in the amount of $27,929, and to pay a civil penalty of $570,150,” according to the SEC. “Vick has also agreed that he is prohibited from acting as an officer or director of a public company. The settlement is subject to court approval.

© 2021 BizWest Media LLC

MEAD – Ann Vick, owner of mutual fund AMV Investments LLC, has agreed to pay about $1.2 million in fines and penalties after the U.S. Securities and Exchange Commission charged her with operated a “Ponzi-like” scheme that raised $3.2 million from approximately two dozen investors.

The lawsuit, filed in U.S. District Court, claims Vick “presented herself to investors as a consistently successful options trader and promised investors exorbitant investment returns” between 2018 and January. 2021.

The consistent returns never materialized and “Vick’s options trading resulted in a volatile mix of gains and losses,” according to the SEC.

“Significant losses” in 2020 led Vick to embezzle more than $570,000 in investor funds, according to the government.

AMV Investments LLC’s registration with the office of the Colorado Secretary of State lists Vick, who could not be reached for comment, as a registered agent and includes addresses in Loveland and Mead. Company registration is pending.

“Without admitting or denying the allegations contained in the SEC Complaint, Vick has consented to the entry of a judgment permanently enjoining him from future violations of the offending provisions and from participating in the offering or sale of any security, and compels him to pay restitution of $570,150 plus prejudgment interest in the amount of $27,929, and to pay a civil penalty of $570,150,” according to the SEC. “Vick has also agreed that he is prohibited from acting as an officer or director of a public company. The settlement is subject to court approval.

© 2021 BizWest Media LLC