Alleged Ponzi scheme leader lived lavishly in Naples

The extravagant lifestyle of a Naples businessman drained several of the accounts, according to a court-appointed receiver investigating a Ponzi scam.

In July, the SEC charged Naples resident Brent Seaman with illegally soliciting $35 million from at least 60 investors through an unregistered securities offering.

The S.E.C. reported that many of these investors were old, retired, and members of Seaman’s Naples church, according to a recent article by Ryan Kruger of Fox4

The receiver linked at least $20.1 million in investor money to foreign currency trading accounts, recovering less than $509,000, according to court filings.

The receiver also found that Seaman, who settled with the S.E.C. but hasn’t pleaded guilt, lived lavishly with investor money.

The receiver found almost $8.5 million in investor money spent for private jet charters, luxurious ski holidays, and pricey jewelry.

“A nice car and suit exude success and make people ask the wrong questions. This is a frequent trend,” said Naples attorney Chris Vernon, who is unrelated to this case but has handled similar cases.

“That money is undoubtedly gone after 30 years representing receivers and dealing with them.”

This article originally appeared on Fox 4