On August 30, 2017, the SEC filed an Amended Complaint against Hope Advisors, LLC (“Hope”); its principal, Karen Bruton (“Bruton”), and two Hope employees, Todd Wortman (“Wortman”), and Dawn Roberts (“Roberts”) (collectively, “Defendants”) alleging that Hope and Bruton perpetrated a scheme to charge unearned fees to Hope Investments LLC (the “HI Fund”), a fund they managed. The Amended Complaint further alleged that Roberts and Wortman aided and abetted this fraud.
On September 13, 2018, the Court entered the Final Judgments against Hope and Bruton. On September 18, 2018, the Court entered the Consent Final Judgment against Wortman and Roberts. The Court imposed, jointly and severally, disgorgement and civil penalties against Hope and Bruton of $1,237,235.00 and $250,000.00, respectively. The Court imposed civil penalties against Wortman and Roberts of $100,000.00 and $75,000.00, respectively. The Defendants paid a total of $1,660,370.65.