United States SEC Charged Prestige Investment Group, Paramount Management Group & Founder Daryl Heller for $770 Million United States ATM Network Ponzi Scheme from 2017 to 2024 Raising $770 Million from 2,700 Investors & Misappropriating $185 Million Funds Including to Buy a Beach House
4th September | Hong Kong
The United States Securities and Exchange Commission (SEC) has charged Prestige Investment Group, Paramount Management Group & founder Daryl Heller for operating $770 million United States ATM network Ponzi scheme from 2017 to 2024, raising $770 million from around 2,700 investors & misappropriating $185 million funds including using the funds to buy a beach house. United States SEC (3/9/25): “The Securities and Exchange Commission today charged Daryl F. Heller of Pennsylvania and his companies, Prestige Investment Group, LLC and Paramount Management Group, LLC, with operating a multi-year Ponzi scheme that resulted in investor losses of approximately $400 million. According to the complaint, from January 2017 through June 2024, Heller and Prestige raised more than $770 million from approximately 2,700 investors, many of whom are retail investors, to invest in ATMs operated by Paramount. The complaint alleges that Heller used his control of Prestige and Paramount to create the false impression that they were running a successful, nationwide ATM network and paying investors fixed monthly distributions from income earned from ATM transaction fees and related charges. In reality, as alleged, the defendants misrepresented the size and profitability of the ATM network and paid distributions to investors primarily using money from new investments and high-interest, short-term loans. Heller also misappropriated more than $185 million of investor funds for his own benefit, including for a beach house and his other businesses, according to the complaint.The SEC’s complaint, filed in U.S. District Court for the Eastern District of Pennsylvania, charges Heller, Prestige, and Paramount with violations of the antifraud provisions of the federal securities laws. It seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against the defendants and a conduct-based injunction and officer and director bar against Heller.”
“ United States SEC Charged Prestige Investment Group, Paramount Management Group & Founder Daryl Heller for $770 Million United States ATM Network Ponzi Scheme from 2017 to 2024 Raising $770 Million from 2,700 Investors & Misappropriating $185 Million Funds Including to Buy a Beach House “
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
United States SEC Charged Prestige Investment Group, Paramount Management Group & Founder Daryl Heller for $770 Million United States ATM Network Ponzi Scheme from 2017 to 2024 Raising $770 Million from 2,700 Investors & Misappropriating $185 Million Funds Including to Buy a Beach House
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
