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Written by 3:03 pm Blog, Securities Fraud Articles

Prestige Capital and D2W charged with Alleged Scheme

North Carolina Companies Prestige Capital Advisors, LLC and D2W Capital Management, LLC and Their Head Toby D. Hunter charged with “Fraud and Misappropriation” by CFTC for an Alleged Commodities Fraud Scheme

According to a CFTC press release, “a federal court in Charlotte, N.C., entered an emergency order freezing assets held by defendants Toby D. Hunter of Waxhaw, N.C., and his companies, Prestige Capital Advisors, LLC (Prestige) and D2W Capital Management, LLC (D2W) of Charlotte, N.C.”

The move to freeze the assets and to pursue Mr. Hunter, Prestige Capital Advisors, and D2W Management in federal court arose from a civil complaint filed recently in a U.S. District Court near Charlotte.  The CFTC release says that the “complaint alleges that, since April 2008, Hunter, Prestige, and D2W fraudulently solicited and accepted funds from the general public to trade pooled investments in commodity futures, options on commodity futures and managed forex accounts. As a result of defendants’ allegedly fraudulent solicitation, at least six individuals invested $4.65 million with the Prestige Multi-Strategy Fund, LP, a pool established by Hunter and Prestige. In addition, the defendants solicited and received $2.36 million in connection with forex trading accounts managed by D2W. Defendants also allegedly misrepresented the profitability of their trading programs by posting false purported returns on a website called BarclayHedge. The complaint further alleges that defendants misappropriated some of the Prestige investors’ funds and issued false account statements to investors in both schemes in order to perpetuate defendants’ fraud.”

If you have invested with Mr. Hunter or his companies and would like to speak to a securities attorney about your investment and potential for action to recover losses, please call The White Law Group’s Chicago office at 312/238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.

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