PHILADELPHIA and CLEVELAND, May 31, 2021 /PRNewswire/ — The investment fraud lawyers at Goldman Scarlato & Penny, PC law firm (“GSP”) are evaluating potential claims for compensation on behalf of investors who lost money in MR Cattle, a company owned and controlled by Mark Ray, following recent case developments.
Mark Ray, along with several businesses he controlled including MR Cattle, Custom Consulting & Product Services, and Universal Herbs, as well as two of his associates, Reva Stachniw and Ron Throgmartin, were accused by the Securities and Exchange Commission of perpetrating a cattle-flipping multimillion-dollar investment scheme. The Commission alleged that Mark Ray fraudulently solicited investments in a purported cattle trading business, while in fact he was using new investor money to make payments to existing investors in a Ponzi-like manner and pay for medical bills, flights on private jets or other personal expenses, according to court records reviewed by investor rights attorney Alan Rosca and his colleagues.
Tens of millions of dollars of investor money is missing, according to the Commission.
In April 2020, Mark Ray pled guilty to conspiracy to commit fraud for his role in the alleged fraud. In May 2021, Reva Stachniw and Ron Throgmartin were also charged for their role assisting Ray.
What MR Cattle Investors May Do
Investment fraud attorneys Alan Rosca and Paul Scarlato have been investigating this matter and are evaluating certain recovery options…