Investment Management
Exchange Solutions Company IncFind BBB Accredited Businesses in Investment Management.
Information and Alerts
Alert Details
This business has 2 alerts.
Government Actions 1
Department of Justice v Susan Werth
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On December 9, 2019, Susan Margaret Werth, owner of Exchange Solutions Company Inc, entered into a Plea Agreement with the Department of Justice. The Plea Agreement settles allegations that Susan Werth engaged in wire fraud and running a Ponzi scheme that deceived investors by falsely claiming their funds would be used to make short-term construction loans to clients who were engaged in like-kind exchanges of commercial properties. Under terms of the agreement, Susan Werth agreed to 70 months in federal prison, and was ordered to pay $6,290,510 in restitution.
This action is final.
Government Actions 2
Securities and Exchange Commission v Exchange Solutions Company Inc and Susan Werth
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On December 20, 2018 Exchange Solutions Company Inc and the owner, Susan Werth were issued a Judgment with the Securities and Exchange Commission. The Judgment settles allegations that the business engaged in schemes to defraud by misappropriating investor funds for personal use or make Ponzi payments to other investors, and forging documents to make it appear as if they were engaged in a bona fide business, and never registered the securities that they offered. Under terms of the Judgment, the business and owner is permanently restrained and enjoined from the offer, sale, purchase of any securities; their assets have been frozen; the business is restrained from destroying or disposing of any documents pertaining to the defendants, and they must pay disgorgement and civil penalty to the Commission.
This action is final.
Important Information
Reason for Rating - Factors Lowered
BBB concerns with the industry in which this business operates
Reason for Rating - Factors Lowered
Government action(s) against the business
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