This month, federal prosecutors alleged that Mark Sellers, former owner and operator of Selden Companies, ran a fraudulent ponzi scheme that affected over 100 investors in the Kansas City, Missouri area. Sellers allegedly took over $9.9 million from investors, out of which, $7.4 million was used to pay off credit cards, $700,000 was used to purchase jewelry and $930,000 was used to remodel Sellers’ home. Sellers has since committed suicide. Investments in Selden Companies were allegedly being sold by financial advisor John Scott Elliott. Elliott was previously registered with Ameriprise Financial Advisors in Leawood and Overland Park, Kansas from November 2011 until September 2016. Recommendations and sales of Selden Companies were not suitable for investors, and because Ameriprise failed to reasonably supervise Mr. Elliott, and allowed him to sell the securities, the firm may be responsible for financial losses. If you or someone you know suffered losses with John Scott Elliott and Ameriprise, please call our Chicago-based law offices today to find out how you can recover those losses by suing Ameriprise. We take cases on a contingency fee basis only, so you only pay us if we recover money for you. The call is free. 312-332-4200.
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