Justin Robert King was offering interests in his company Elevate Investment Fund when there was no such legal entity, leading to nearly $4 million in investor losses, according to SEC allegations.
The former Merrill Lynch team, led by advisor Lars Olson, wanted to stay in Marion, Ohio, to be part of the town’s revitalization, so they decided to go independent with Sanctuary Wealth.
There’s historically been no requirement to provide information to the federal government concerning the ownership of a company or other similar entity formed under local state law.
