Dozens of West Michigan investors are reported to be among the victims of a fraudulent scheme perpetrated by Jumar Management, LLC (“Jumar”), an investment-management firm owned and controlled by Kalamazoo native and Upjohn heir Bo Parfet. The alleged fraud pertains to various investment funds managed by Jumar, including Longs Peak Capital Partners, LLC; Longs Peak Capital Partners QP, LLC; and Mt. Elbert 14, 400, LLC; Mt. Elbert 14, 400 QP, LLC; Sawtooth Capital Partners, LLC; Sawtooth Capital Partners QP, LLC; Antero Debt Holdings, LLC; Green Mountain Debt Holdings; and Longs Peak Funding, LLC.
According to a complaint filed by state securities regulators in Colorado, from 2014 to 2018, Jumar engaged in a $100 million securities-offering scheme that defrauded hundreds of investors nationwide. The regulator alleges that Jumar, and other associated entities and individuals, participated in the sale of unregistered securities and defrauded investors by misrepresenting and omitting material information concerning past performance, management credentials, and features of the subject investment funds. Investors were allegedly induced to believe that they were making diversified investments, when in reality, their funds were being funneled into a Ponzi scheme operated by convicted fraudsters Kevin B. Merrill and Jay Ledford.
A receiver has been appointed in the Colorado case and is attempting to gather assets to return some of the defrauded investors’ money. However, the receiver is seeking court approval for a broad release of liability for Parfet and other individuals connected with Jumar, which would bar individual investors from pursuing claims they may have against them. Individual investors who want to preserve their claims against Parfet and other individuals associated with Jumar should act immediately, by filing an objection to the receiver’s proposal. The objection would be based on the receiver’s lack of standing to release individual investors’ claims against Parfet and other non-parties.
If you have suffered damages as a result of the misconduct or malpractice of Jumar and Bo Parfet, you may have legal claims under state Bluesky laws and under common-law theories of liability. Our firm is experienced in bringing claims of this nature, and may be able to assist you in recovering some or all of your losses. The window for bringing such claims is rapidly narrowing, so call or email us now for a free, no-obligation consultation with an experienced securities-litigation attorney.