When it comes to improving one’s financial outlook, investments are usually par for the course. Finding good investments, and honest investments, is not always easy to do though. People want to find someone they feel they can trust, and a number of people thought they had found just that when they invested with Jason Matthew Mullaney, a former Navy SEAL.
He got eleven active and retired Navy SEALs, as well as a friend of his family, to invest more than a million dollars into his company called Trident Financial Holdings and Acquisitions, a money lending company. However, he simply took the money they invested and transferred it from the company into his personal bank account. Currently, Mullaney is facing 30 felony charges. These include securities violations and grand theft due to the amount of money he took. If he were to be convicted on all counts, he could have up to 27 years behind bars.
His preliminary hearing was recently postponed to June 20. When the case finally gets to court, it is likely that quite a few other revelations about the cons he was pulling will become public, and it might be worth following for people to see just how easy it is to be duped. This could help them to avoid it in the future.
This goes to show that it is exceedingly difficult to find someone trustworthy when it comes to investing today. You can never simply trust someone because of the status they hold, such as a former SEAL, an athlete, or a celebrity. You need to be exceedingly careful when it comes to your personal finances, or else you could face huge losses down the road. As always, research and diligence are vital. If you feel that you may have been conned by someone, or you are having serious financial issues of your own, and you feel you may be facing a bankruptcy, get in touch with an attorney before it is too late.