SEC and the CFTC throw book at Global Asset Partners, Joseph C Lavin

Another one bites the dust

Both the Securities Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have thrown the book at what the SEC says is a “a purported Seattle-based investment fund manager.” The SEC has charged Global Asset Partners and its principal Joseph C Lavin (aka Joseph Ivcevic) for defrauding investors of at least $5 million in a ponzi scheme. The commission adds that Lavin promised investors returns of 18% to 36% on their investments, but actually used the money to “pay for personal expenses for himself and his friends, including lavish trips, automobiles, a Seattle Mariners luxury skybox, and real estate in Costa Rica.