Final up to date on August fifteenth, 2022 at 05:34 pm
A Cudahy household is being accused of committing securities fraud after allegedly taking peoples’ funds to speculate with out being legally licensed to take action after which refusing to return these funds.
Jeff, Lynette and Cody Lister are named as defendants within the case, which was filed towards them by Milwaukee County resident Wilson Rodriguez Jr. Jeff and Lynette Lister are the dad and mom of Cody Lister.
The lawsuit alleges that for the previous a number of years, the Lister household has been engaged in a fraudulent scheme to handle cryptocurrency and different digital property on behalf of others for a charge.
Cody Lister allegedly accepted funds and digital property from greater than 10 different individuals after which invested these property for a charge.
The grievance states these charges had been then pooled into accounts that belonged to Jeff and Lynette Lister.
Nobody within the household has the right certification that might enable them to legally handle, make investments or commerce funds on behalf of others, in keeping with the grievance. Cody Lister additionally didn’t register with the Securities and Change Fee or the Commodity Futures Buying and selling Fee.
“Lister particularly acknowledged in a video chat that he was permitted to commerce cryptocurrency on behalf of others,” reads the grievance.
The grievance says Lynette Lister first met Rodriguez whereas working as his actual property agent, encouraging Rodriguez to debate cryptocurrency with Cody Lister due to his supposed data. She is listed as an agent with Berkshire Hathaway Residence Providers Metro Realty. Jeff Lister additionally allegedly assisted Cody Lister within the administration of different peoples’ property.
Cody Lister informed Rodriguez that he would be capable to double his cash, in keeping with the grievance.
On Aug. 19, 2021, Rodriguez allegedly despatched $4,450 for Cody Lister to speculate. Rodriguez signed a written settlement that mentioned Cody Lister would handle these funds for a charge of three%. By October 2021, Rodriguez had despatched Cody Lister roughly $100,000 in digital property. Rodriguez continued to ask for return of his funds to make an actual property buy, to no avail, in keeping with the grievance.
In response to Rodriguez’s demand to return his cash, the grievance says Cody Lister responded by texting “Sure (after all) I did shroomies yesterday so was a little bit out of it to say the least.”
Regardless of the complete household allegedly persevering with to make excuses for why Rodriguez’s cash couldn’t be returned, Rodriguez was despatched a screenshot that confirmed Cody Lister’s checking account containing over $5 million in funds, in keeping with the grievance.
The grievance states Rodriguez has suffered losses of over $150,000, which he seeks to get well.
“My purchasers vehemently disagree with the claims filed and stay up for their day in court docket,” mentioned Michael Haeberle, legal professional for the household, in a press release.