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The EquiAlt $170 million Ponzi Scheme

Updated: Sep 27, 2023

On February 18, 2020, the Securities and Exchange Commission announced an emergency enforcement action and a temporary restraining order and asset freeze against Florida-based private real estate firm EquiAlt LLC, its CEO Brian Davison, and its Managing Director Barry Rybicki, in connection with an alleged fraudulent unregistered securities offering that raised more than $170 million from at least 1,100 investors, a number of whom invested their retirement funds.

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