Federal regulators say a Bratenahl businessman siphoned more than $10 million in investors’ money to buy luxury cars, a $2 million home and a private jet.
CLEVELAND, Ohio –
In all, at least 85 investors in 15 states bought the company’s securities. The lawsuit says Pison made little from its actual business. The SEC lawsuit says that James portrayed himself as independently wealthy and that he told investors he never took a salary from Pison. James founded Pison in 2011. Since then, the SEC alleges, James told investors that the company was involved in research and development of chemical coatings for defense, aerospace and automotive markets.
@Lll Joseph-James Pison-Stream-Solutions Securities-And-Exchange-Commission U.S.-District-Court-Cleveland
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