The Securities and Exchange Commission accusing Johanna Garcia of running Ponzi scheme

Miami, Florida – A Broward County woman who owns MJ Capital Funding, is being investigated by the Securities and Exchange Commission.
The SEC is accusing Johanna Garcia of runny a Ponzi scheme.
MJ Capital Funding convinced more than 2,000 people to invest thousands of dollars and in exchange, they would get back typically 120% for six-month investments, according to court documents.
According to the company’s website, that money would be used to fund small business loans.
In fact, line 18 of the complaint says, “The representations that the MJ Companies were using investor money to fund MCAs and that their money was secure were lies.”
“The SEC has alleged in this particular instance is that while making promises to investors to make the money and invested and landed and get a large rate of return, instead they were simply using the funds themselves or using the new funds to pay out the old funds and they were selling what the FCC believed it was a security without having the proper license and requirements and then their actions were the Friday for the original and the new investors,” said Attorney Dave Weinstein, who is not connected to the case.
The company’s assets have been frozen and they are scheduled to be in court to defend this civil charge in September.