Seeman Holtz Founder Selling Home For $8.6M. Media Request Sent To Voicemail.
BY: ANDREW COLTON | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2021 MetroDesk Media, LLC) — Boca Raton-based financial advisory group Seeman Holtz is being sued by multiple senior citizens who claim that the company’s financial advisors illegally pushed them to invest money in promissory notes, then refused to pay when those notes matured.
(News app readers access our full report).
According to the suit, investors were told the firm is undergoing financial problems and that the funds couldn’t be immediately paid.
Seeman Holtz received $4,269,400 in PPP funds on April 7th, 2020, according to public records. Founder Marshal Seeman just listed his home at 1300 Thatch Palm Drive in Boca Raton for $8,650,000.
Attorneys representing the plaintiffs write: “Seeman Holtz which was not registered as a broker-dealer with the State of Florida, U.S. Securitities and Exchange Commission or the Financial Industry Regulator Authority, sold the notes to the Plaintiffs. The notes are unregistered securities. Messrs. Seeman and Holtz managed and control Seeman Holtz and also manage and control PL Holding, the managing member of the PL Entities.”
“Using a network of unregistered dealers, Seeman Holtz sold the Notes to seniors, including Plaintiffs and others, by telling investors that the notes, including the Notes at issue in this case, were safe and secure and would be collateralized by a portfolio of life insurance policies which would provide safety of principal and substantial returns.”
But the seniors — many of whom allegedly invested their life savings with Seeman Holtz — saw nothing in return.
“Upon information and belief,” states the suit, “these representations were materially false and misleading.”
Read the complete lawsuit, below. BocaNewsNow.com reached out to Seeman Holtz on Yamato Road in Boca but a receptionist — who first giggled when asked if there was a corporate spokesperson — ultimately transferred us to a voicemail extension with no outgoing message.
We’ll update if Seeman Holtz responds. The plaintiffs are represented by Sallah Astarita and Cox in Boca Raton; Menzer and Hill P.A.; and Silver Law Group.SEEMAN-HOLZ
Content copyright © 2021 Metro Desk Media, LLC. All Rights Reserved. We vigorously protect our intellectual property and journalistic product. Broadcast stations must credit BocaNewsNow.com on air. Print must refer to BocaNewsNow.com. Online must link to BocaNewsNow.com. We have agreements with several organizations. Contact news (at) bocanewsnow.com.
The Latest From BocaNewsNow.com
- TROPICAL STORM SAM FORMS, EXPECTED TO BECOME MAJOR HURRICANE, NOW EAST OF FLORIDA
- Florida Woman Calls 911 To Complain Delray Police Said Don’t Call 911
- MAJOR HURRICANE: Forecasters Expect Fast Strengthening For Storm East Of Florida
- TROPICAL DEPRESSION 18 FORMS, PAY ATTENTION FLORIDA
- Palm Beach County School Board To Discuss New “Quarantine” Rule At Today’s Meeting
- FDLE: Boca Raton Officers Not Yet Cleared In July Shooting
- PALM BEACH SCHOOLS: 10,000 COVID CASES BY CHRISTMAS?
- HURRICANE CENTER: Another Tropical Depression Expected To Form Today
- POLICE: Boca Raton Man Claimed Girlfriend Had Knife, Pills, So Batters Her To Save Her