Financial Firm Seeman Holtz Faces Multiple Lawsuits From Seniors Who Allege Fraud.
Seeman Holz Claimed Insolvency, Received More Than $4M In PPP Loans During COVID-19.
BY: ANDREW COLTON | Editor and Publisher
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2021 MetroDesk Media, LLC) — Eric Holtz, co-founder of Seeman Holtz Financial Advisors in Boca Raton — committed suicide on Friday.
Holtz, and co-founder Marshal Seeman, are facing multiple lawsuits claiming that the company defrauded investors, mostly senior citizens. The lawsuits suggest the seniors invested huge sums of money — in many cases their “life savings” — in promissory notes. But the firm allegedly wouldn’t pay money due when the notes matured.
The nature of death was confirmed by a spokesperson for the company who provided BocaNewsNow.com with this statement:
“It is with enormous sadness that we share that Eric Holtz, our-co-founder and executive vice president, passed away on Friday, June 11, 2021. Our entire Seeman Holtz family mourns this tragic loss and sends our love and deepest sympathy to Eric’s wife Shannon, his children Tristan, Alex, and Aiden, and especially his grandson Isaac and granddaughter Emilia, who influenced his big smile every day. Anyone who has known Eric, knew him as a compassionate and highly motivated individual who loved his family and cared deeply about the welfare of everyone in The Seeman Holtz Family of Companies and all of our clients.While he can never be replaced, we will honor his legacy by continuing the work that Eric dedicated his life to—serving our clients.”
BocaNewsNow.com reported on one of the lawsuits back on May 10th. From our coverage:
“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. According to the suit, investors were told the firm is undergoing financial problems and that the funds couldn’t be immediately paid.”
We also reported on questions raised concerning Seeman Holtz receiving more than $4.2 Million in PPP loans, yet claiming insolvency.
“Seeman Holtz received $4,269,400 in PPP funds on April 7th, 2020, according to public records,” we reported. “Founder Marshal Seeman just listed his home at 1300 Thatch Palm Drive in Boca Raton for $8,650,000.”
Eric Holtz, according to public records, owned a $2M home in Sea Ranch Lakes in Broward County. It was not immediately clear where his body was found. He is listed as co-owner of the home with his wife.
The Broward County Sheriff’s Office and the Broward County Medical Examiner could not confirm late Monday that they were investigating Holtz’s death.
Read our previous coverage, here.
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