Statim Holdings Inc., an Atlanta-based firm that has guaranteed investors that its Arjun hedge fund won’t lose money, is under investigation by the U.S. Securities and Exchange Commission and the Georgia Securities Division.
Georgia regulators began a probe into Statim Holdings Inc. in 2015 after the company failed to submit to a surprise audit. Statim filed some but not all of the required paperwork related to audits. The missing paperwork was among multiple irregularities that led to the investigation.
Statim, led by Joseph A. Meyer, said that he employs a computerized system of his own design but invests most of his clients’ money in safe Treasury bonds. Statim and Meyer have not been accused of any wrongdoing and an investigation doesn’t mean they will face legal action.
Meyer said last year that investors in Arjun’s main share class will never lose money. As part of the deal, investors must tie up their cash for 10 years or else lose 50 percent of their principal if they choose to redeem early.
Several individuals, had asked to withdraw money from Meyer’s funds between 2012 and 2016. Three of them said they decided to pull money from Statim after discovering discrepancies in their contracts or that investment statements didn’t reflect the performance Meyer said he was achieving.
If you feel you have been misled regarding investing and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.