Rubicon Advisor Allegedly Misappropriated $20 Million from Clients

Securities Regulators Charge Pennsylvania Advisor, Rubicon Wealth with Fraud

The SEC reportedly charged former Pennsylvania 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 Rubicon clients between 2014 and 2024.

Mason allegedly made unauthorized transfers from client accounts for personal expenses, including country club dues and purchasing part of a miniature golf course, and purportedly concealed his actions by forging signatures and providing fake account statements and tax documents.

Mason, who reportedly previously held FINRA securities licenses and served as Rubicon’s president, managing member, and chief compliance officer, allegedly gave investment advice to Rubicon’s 115 clients, managing $231 million in assets as of March 2024.

The SEC’s complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, accuses Mason and his companies of violating antifraud provisions of federal securities laws. Mason, Rubicon, and Orchard Park reportedly consented to final judgments permanently enjoining them from future violations, with the court to determine financial penalties and disgorgement later. The settlement is waiting for court approval.

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If you suspect you may have been defrauded by your financial advisor, please contact the securities attorneys at The White Law Group.  For a free consultation, please call the offices at 888-637-5510.

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 Seattle, Washington.

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