The U.S. Securities and Exchange Commission sued Scott A. Merkelson Monday in Florida Southern District Court over alleged violations of federal securities laws while serving as director of business development for 1 Global Capital, a merchant cash advance business. The agency alleges that 1 Global fraudulently raised more than $320 million from investors from 2014 to 2018. Merkelson is accused of helping perpetuate the fraud by falsifying documents. Counsel have not yet appeared for the defendant. The case is 0:22-cv-60702, Securities and Exchange Commission v. Merkelson.
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1. From no later than February 2014 until July 27, 2018, 1 Global Capital LLC (“1
Global” or “the Company”) fraudulently raised more than $322 million from more than 3,600
investors nationwide in an unregistered securities offering. Defendant Scott A. Merkelson served
as 1 Global’s Director of Business Development from April 2017 through July 2018. During that
time, Merkelson played a role in the fraud by, among other things, signing monthly investor
account statements that he knew misrepresented the role of an accounting firm in auditing and
verifying information...
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