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SEC Charges Voyager Pacific Capital, Hardcastle, Giarmarco, and Medlock with Securities Fraud

The SEC charged Voyager Pacific Capital Management LLC, CEO Roger David Hardcastle, former CFO John Giarmarco, and then-COO Vanessa Lung-Medlock with conducting a multi-year fraudulent scheme from September 2020 through March 2024 involving a real-estate investment fund. The complaint alleges that more than $15 million in new investor money was used to pay existing investors in Ponzi-like fashion, while millions more were diverted through undisclosed transactions to entities owned or controlled by Hardcastle and Giarmarco. Hardcastle and Giarmarco have agreed to bifurcated settlements subject to court approval, including permanent injunctions and monetary relief to be determined.