The Securities and Exchange Commission (SEC) has charged Frank Lynold Mercado and the unregistered advisory firm that he controlled, Tiger Wolf Capital, LLC, with defrauding more than 100 investors through a Ponzi scheme.
According to the SEC’s complaint, between August 2019 and February 2023, Mercado and Tiger Wolf made unregistered offerings of securities, raising more than $1.4 million from over 100 individual investors and advisory clients.
The complaint alleges that Tiger Wolf and Mercado falsely claimed, among other things, that clients were receiving a “50%+” return on investment and touted an “uncompromising focus on risk management.”
In reality, Mercado, who had no prior experience in the securities industry, and Tiger Wolf did not invest the majority of client funds in Tiger Wolf’s offerings and instead used money…
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