Banking & Finance October 26, 2021 8:00:59 pm

SEC: NoCo investment fund operator charged with fraud in alleged $3.2M scheme

By Lucas High

MEAD — Ann Vick, owner of pooled investment fund AMV Investments LLC, has agreed to pay about $1.2 million in fines and penalties after the U.S. Securities and Exchange Commission accused her of operating a “Ponzi-like” scheme that raised $3.2 million from roughly two dozen investors.

The complaint, filed in U.S. District Court, claims that Vick “represented herself to investors as a consistently successful options trader and promised investors exorbitant investment returns” between 2018 and January 2021.

Consistent returns never materialized and “Vick’s options trading resulted in a volatile mix of gains and losses,” according to the SEC.

“Significant losses” in 2020 resulted in Vick misappropriating more than $570,000 of investor funds, the government alleges.

AMV Investments LLC’s registration with the Colorado Secretary of State’s office lists Vick, who could not be reached for comment, as the registered agent and includes addresses in Loveland and Mead. The company’s registration is in delinquency.

“Without admitting or denying the allegations in the SEC’s complaint, Vick has consented to the entry of a judgment that permanently enjoins her from future violations of the charged provisions and from participating in the offer or sale of any securities, and requires her to pay disgorgement of $570,150 together with prejudgment interest thereon in the amount of $27,929, and to pay a civil penalty of $570,150,” according to the SEC. “Vick also agreed to be prohibited from acting as an officer or director of any public company. The settlement is subject to court approval.”