SEC Charges Disbarred Attorney and Others in Fraudulent Scheme Targeting Senior Citizens’ Retirement Funds

The Securities and Exchange Commission filed charges against four people for stealing retirement funds from a couple in their 70s. John Mark Marino is a disbarred lawyer and convicted felon, along with Jason “Jai” Johnson, Anthony Brown, Abraham Borenstein and others are accused by the authorities of misleading the investors, claiming the funds would go to pay for the “monetization” of a €1.5 billion medium-term note issued by an international bank. Marino allegedly used investor funds for himself and transferred some of them to the other defendants. Borenstein, who is a licensed lawyer, was said to facilitate the fraud by acting as an intermediary. “paymaster” The money from the investors was allowed to pass through his attorney trust fund. Brown is accused by the SEC of helping Marino connect him to Johnson and the investors for a portion of the misappropriated money. In its complaint, the SEC charges Johnson and Marino with violating antifraud laws. Borenstein and Brown have been charged with aiding Marino in his violations. Marino faces a number of SEC remedies including permanent injunctions and civil penalties. The SEC also wants to bar him from being an officer or director. Spencer Bendell supervised the investigation conducted by Christopher Nowlin. Daniel Blau, who will be leading the litigation under Gary Leung’s supervision, is in charge of the litigation.

Recover Investment Losses

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SEC: What You Need to Know

Securities Exchange Commission, or SEC for short, is the regulatory agency of the United States. It oversees and enforces securities laws. Its main mission is to safeguard investors, maintain fair markets and facilitate capital formation. The SEC accomplishes these goals through various activities such as regulating the securities markets, registering, overseeing, and enforcing securities law, and providing educational resources and information to investors. The SEC has a vital role to play in ensuring transparency and accountability within the securities sector. It also promotes investor trust and contributes to the stability and efficiency of financial markets.

More information can be found at

SEC’s Website

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