The Securities and Exchange Commission (SEC) has charged Massachusetts resident Jonathan Webb for defrauding investors in a securities offering that included low-income cemetery employees.
Webb has agreed to settle the case and to pay almost $400,000 in monetary relief.
According to the SEC’s complaint, from at least January 2021 to August 2023, Webb solicited and accepted approximately $1.7 million from at least 34 people for investment purposes.
Webb began working as an arborist at a Massachusetts cemetery in 1994 and by 2019 had become a supervisor of tree maintenance. Webb had no investment experience or training beyond his workplace retirement account and his trading of securities in a personal trading account.
In approximately 2019, Webb attended a two-week course for the purpose of learning about online trading in his personal accounts. The second week of the course focused on trading in the Forex market….
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