SEC v. Scott Jeffrey Mason, Rubicon Wealth Management, LLC, Orchard Park Real Estate Holdings LLC — U.S. Securities and Exchange Commission Litigation Release No. 26451, dated December 19, 2025.
Scott Jeffrey Mason, a Pennsylvania-based investment adviser, and his related entities, Rubicon Wealth Management, LLC, and Orchard Park Real Estate Holdings LLC, have been ordered to pay over $22 million in disgorgement and interest. Mason was accused of misappropriating millions in client funds for personal use, including purchasing a share of a miniature golf course. He has been sentenced to 97 months in prison in a parallel criminal case.
Imagine someone was in charge of looking after your piggy bank. Instead of keeping it safe, they took money out to buy fun things for themselves, like a piece of a mini-golf course, and pay for their own club memberships. That's what happened here, but with millions of dollars from people's investments. The person in charge and their companies have now been ordered to pay back the money, and the main person is going to prison.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
SEC Obtains Final Consent Judgments As To Philadelphia-Area Investment Adviser and Related Entities Alleged To Have Engaged In Multimillion Dollar Fraud. On December 12, 2025, the United States District Court for the Eastern District of Pennsylvania entered final consent judgments in the SEC’s civil enforcement action as to Scott Jeffrey Mason, former Pennsylvania-based investment adviser Rubicon Wealth Management, LLC, and Orchard Park Real Estate Holdings LLC. The SEC’s complaint, filed on January 17, 2025, alleged that from at least 2014 to 2024 Mason misappropriated millions of dollars in client funds for his personal use, including purchase of a share of a miniature golf course and personal expenses such as country club dues and credit card debt. Mason, Rubicon, and Orchard Park consented to final judgments permanently enjoining them from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Mason and Rubicon also consented to permanent injunctions enjoining them from violating Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. The final consent judgments also hold Mason, Rubicon, and Orchard Park jointly and severally liable for disgorgement of $17,734,515.69 and $4,913,428.60 in prejudgment interest, which were deemed satisfied by restitution and forfeiture orders entered in the parallel criminal case, United States v. Mason, No. 2:25-cr-00025 (E.D. Pa.), in which Mason pleaded guilty and was sentenced to 97 months in prison. The SEC’s investigation was conducted by Laura E.L. Gavin, Brian P. Thomas, and Norman P. Ostrove in the SEC’s Philadelphia Regional Office, supervised by Scott A. Thompson and Nicholas P. Grippo. Spencer Willig and Judson Mihok led the litigation, supervised by Gregory R. Bockin. The SEC appreciates the assistance of the United States Attorney’s Office for the Eastern District of Pennsylvania and the FBI.
Named in this action: Scott Jeffrey Mason, Rubicon Wealth Management, LLC, Orchard Park Real Estate Holdings LLC.