January 29, 2013
SB Capital Update – Mark Feathers Fights SEC for Control
In a fight or flight confrontation, former SB Capital President Mark Feathers has chosen to fight the SEC.
His uphill task is to convince the federal court judge overseeing the matter that he was not running a Ponzi-like scheme.
His defense lies in weeds of the numbers. The core of his argument is the SEC purposely miscalculated the distributions paid to investors by double counting monies paid to the investor that were then reinvested.
It will all be sorted out on February 22nd where the judge will rule on a number of Feather’s motions to regain control of SBA Capital.