U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22392 / June 12, 2012
SEC v. Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC, Civil Action No. 1:12-cv-01996-TWT (U.S. District Court for the Northern District of Georgia)
Court Issues Preliminary Injunction against Atlanta Investment Advisor and His Company
On June 11, 2012, the Honorable Thomas W. Thrash of the United States District Court for the Northern District of Georgia issued an order of preliminary injunction against violations of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 in U.S. Securities and Exchange Commission’s case against Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC. The order also allows for expedited discovery, asset freezes, prevents the destruction or concealment of documents and requires an accounting. Lighthouse, an investment advisor located in Atlanta and registered with the State of Georgia, has been owned and operated by DeHaan since 2007.
The Commission filed its case against DeHaan and Lighthouse on Saturday, June 9, 2012. The Commission’s complaint alleged that from approximately January 2011 through early May 2012, DeHaan moved approximately $1.2 million in funds belonging to his clients from their accounts at a custodial broker-dealer into a bank account in Lighthouse’s name that he controlled, thus gaining custody and control of these client assets. DeHaan and Lighthouse told the clients that these funds would be used to open new accounts at another broker-dealer. Once in this account, at least some of these funds were moved to a personal account belong to DeHaan and to accounts used by Lighthouse for business expenses. At least $600,000 in client funds remains unaccounted for. DeHaan was also alleged to have provided false documents to the Commission’s staff and to an examiner for the State of Georgia.
DeHaan and Lighthouse consented to the entry of the order providing for a preliminary injunction and other relief without admitting or denying the allegations in the Commission’s complaint. The Commission may seek additional relief, such as a permanent injunction, disgorgement of any ill-gotten gains with prejudgment interest and civil penalties, at a later time.
For further information, see Litigation Release No. 22390 (June 11, 2012).
July 10, 2012 Lighthouse FAQs July 10, 2012 Lighthouse Investor Letter July 27, 2012 Lighthouse Investor Update
No files found at this time.
January 23, 2013 Non-Investor Claim Form January 23, 2013 Investor Claim Form January 23, 2013 Exhibit A to Investor Claim Form January 23, 2013 Notice of Deadline for Filing Claims
January 24, 2013 Criminal Complaint February 1, 2013 DeHaan Guilty Plea and Plea Agreement
- June 26, 2014Comments are offThe Daily Report June 18, 2014 Article regarding Greg Hays, as Receiver for Lighthouse Financial Partners, pursuit of claims against counsel in a Ponzi scheme case. Read more here.Continue Reading →May 16, 2014Comments are offNAFER’s The Receiver Spring 2014 Greg Hays is published in the Spring 2014 issue of NAFER’s The Receiver, discussing reasons for hiring an experienced Receiver. Read more here.Continue Reading →Former owner of Lighthouse Financial Partners sentenced to 7 Years. Read more here.Continue Reading →July 30, 2013Comments are offSee the article regarding the “Rising Tide” distribution plan commonly used in a receivership cases. The Receiver plans to recommend to the court that Rising Tide be employed in this case.Continue Reading →May 20, 2013Comments are offAtlanta Journal Constitution: Section of the Berlin Wall to be Sold at Auction (click link for full story) Fox 5 News: Piece of Berlin Wall to Be Auctioned off in Suwannee (click link for video)Continue Reading →May 07, 2013Comments are offOne of the last remaining assets of Lighthouse Financial Partners, the section of the Berlin Wall currently stands in front of Suwanee City Hall where it will be auctioned Saturday May 25th for the benefit of the Receivership Estate. Funds from the sale will be applied to pay restitution to the victims of the securities fraud case, SEC v. BenjamiContinue Reading →