The US Securities and Exchange Commission has filed a lawsuit against Joseph J. Nantomah, Investors Capital LLC, Global Investors Capital LLC and high -income LLC partners.
The SEC complaint, which was submitted to Wisconsin Eastern District Court on August 1, 2025, concerns a fraud associated with the real estate committed by Nantomah through three Wisconsin limited liability companies that belonged and controlled.
The complaint claims that, from about May 2020 to at least January 2024 (“relative period”), the defendants asked the investors promising to buy, correct and reverse real estate for profit.
Defendants are alleged to raise collectively at least $ 1.9 million from at least 30 investors in all the United States. He did not know the investors, many of whom were members of the Nigerian-American community, Nantomah abused their money, spending at least 80% of himself and his other businesses and not on promised real estate transactions.
Nantomah kept himself as a “incredibly successful businessman”, who gathered a multi -million dollar real estate portfolio after immigration from Africa to Wisconsin in 2016 “with just $ 4,700”, to become “notable and sought with a millionaire” Charity.
Nantomah made these similar representations on his website, on social media sites, during presentations to potential investors and during economic training seminars.
Nantomah’s story was misleading. According to Nantomah, he had sufficient assets when he immigrated to America to support himself and his family without having to work.
Similarly, Nantomah’s claims on his website in 2024 that he owned “property assets currently worth more than $ 23 million” were also untrue. According to public record searches, during the relative period, Nantomah and the entities it controls – including Capital Investors, Global Investors Capital and high -income partners (together, “accused entity”) – owned only 11 immovable property.
Nantomah further attracted investors with promises of lucrative returns (or “roi”) in one or less time. The defendants promised various investors a variety of different ROIs, usually from 10% to 30%, but at times higher. The defendants usually promised to pay pay to investors within three to 12 months consisting of the ROI (ROI) return and the refund of their main investment.
The defendants usually conclude written investment agreements with investors who made their first investment. The agreements formally stated that the accused entity would provide services, including the purchase, determination and suspension of property on behalf of investors and “acquiring investment real estate that fits the Investment Fund”. The defendants have told investors that the profits would be created through Nantomah’s investment for their funds either on a specific property or in indefinite real estate to be purchased, renovated and sold.
Some investors were then used to oral agreements with Nantomah and one or more of the accused entity for additional real estate investment, without prejudice to terms similar to the terms of their initial investments.
Regardless of whether the investment agreements were written or oral, Nantomah told investors that the money invested had to be used for real estate development projects by paying capital investment and investment from a specified time.
Despite these basic representations and promises, the defendants spent only a small fraction (less than one fifth) of investors’ money on the market or renovation of real estate.
Instead, Nantomah assumed investor funds in his personal bank accounts and represents the accused of the entity and his other businesses and often used investor funds for other purposes, including payment of his personal living expenses, jewelry and car market.
Although the written investment agreements have identified at least 10 specific real estate that the defendants will buy, correct and reverse, public records show that during the relative period, seven of these 10 properties were never owned by the defendants and, by one of the defendants.
The defendants have not paid most investors as they have promised in written and oral investment agreements. Investors who came into contact with Nantomah in search of the repayment of their head investment and their investment when their investment period ended, met with a series of excuses and delays.
In addition, many of the investors sued Nantomah and/or the accused entity when the defendants failed to fulfill their payment liabilities. Despite these lawsuits, the defendants continued to seek funds for additional “successful investment” without revealing that the defendants had not paid previous investors.
The Securities and Exchange Commission accuses the defendants of the violations of the laws on federal mobile values, namely Articles 5 (a), 5 (c) and 17 (a) of the 1933 movable values law and Article 10 (b) of the law on the exchange of movable values of 1934 and Article 10b-5.
The regulator claims that there is a reasonable chance that, unless it is held and selected, the defendants will continue to violate these federal mobile laws.
Consequently, the Securities and Exchange Commission seeks a decision against the defendants that: (a) it imposes permanent suspension exemption, including the ban of Nantomah from offering or selling securities; (b) orders disconnected with a bad increase in profits plus interest;