The SEC filed an emergency enforcement action, obtained a temporary restraining order, and froze the assets of Kenneth Courtright and Today’s Growth Consultant Inc.
The Sonn Law Group is investigating allegations that Kenneth Courtright, III operated a Ponzi scheme. If you or a family member has suffered losses investing in Today’s Growth Consultant Inc., which also operated under the name ‘The Income Store’, we want to discuss your case. Please contact us today for a free review of your case.
The SEC published a litigation release on January 15, 2020, announcing that they had filed an emergency enforcement action and obtained a temporary restraining order and asset freeze against Illinois resident Kenneth Courtright, III, and his company, Today’s Growth Consultant Inc., (“TGC”).
The emergency enforcement action was filed because Courtright and TGC were in connection with an alleged Ponzi-like scheme that raised at least $75 million from more than 500 investors around the world.
SEC: Ken Courtright Promised Investors Guaranteed Rate of Return on Revenues Generated by Websites
According to the complaint, from 2017 through October 2019, TGC, which also operated under the name “The Income Store,” and Courtright, the company’s founder and current chairman, promised investors an endless minimum guaranteed rate of return on revenues generated by websites. In exchange for an investor’s “upfront fee,” Today’s Growth Consultant claimed that it would either buy or build a website for the investor, and develop, market, and maintain the website.
As alleged, Today’s Growth Consultant falsely promised that it would use investors’ funds exclusively for expenses related to the investor’s website. In reality, as alleged, the sales were conducted through unregistered securities offerings, and TGC used new investors’ funds to pay investor returns, in Ponzi-like fashion, and to pay Courtright’s personal expenses, including his mortgage and private school tuitions for his family.
The SEC’s complaint, filed in federal court in Chicago on Dec. 27, 2019, and unsealed on Jan. 14, 2020, charges Courtright and TGC with violations of the antifraud and registration provisions of the federal securities laws.
The SEC seeks certain emergency relief as well as permanent injunctions, the return of ill-gotten gains with prejudgment interest, and civil penalties. On Dec. 30, 2019, the Court issued a temporary restraining order, ordered an asset freeze and other emergency relief, and appointed a receiver for TGC.
Losses Investing with Kenneth Courtright / Income Store Ponzi? Contact Sonn Law Today
The Sonn Law Group is currently investigating allegations that Kenneth Courtright, III operated a Ponzi scheme. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.