Lawyer Accused of Pocketing Millions Meant for Investors! Funds Vanish!

SEC v. Gianoplus Consortia LLC, Michael Peter Gianoplus, Traci Leigh Bransford-Marquis — U.S. Securities and Exchange Commission Litigation Release No. 26522, dated April 8, 2026.

The SEC charged Michael Gianoplus, his company Gianoplus Consortia LLC, and attorney Traci Bransford-Marquis for defrauding investors. They allegedly promised high yields through an overseas investment program but instead misappropriated over $2.4 million in principal funds from at least eight investors, totaling more than $6 million raised. The funds were supposed to be protected in an attorney's trust account but were allegedly used for personal benefit.

In Plain English

Imagine you give your money to a friend who promises to invest it in a super-secret, high-paying overseas club. They tell you your money is safe in a special lawyer's account and will be returned. But instead of investing it, they take a big chunk of your original money for themselves, even though the club didn't make any profits. That's what the SEC says happened here, and they are suing the friend, their company, and the lawyer.

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.

How the Alleged Scheme Worked

1. The Promise of Extraordinary Profits Michael Gianoplus, through his entity Gianoplus Consortia LLC (GC), allegedly developed a high-yield investment program (HYIP). This program promised investors access to exclusive overseas platforms trading obscure financial instruments, with the allure of extraordinary short-term profits.
2. Sourcing Investments Gianoplus personally sourced investments for the HYIP. Investors were led to believe their principal funds would be 'protected' and returned after the program concluded, with defendants compensated from program profits.
3. The Escrow Attorney's Role Traci Leigh Bransford-Marquis served as the escrow attorney and paymaster. Investor agreements stated that principal funds would be 'safe haven[ed]' and 'protected' in her attorney trust accounts, with 'sub' accounts for profits.
4. No Profits Generated Despite the promotional promises, the HYIP did not generate any profits for investors during the relevant period (March 2021 through at least January 2025).
5. Misappropriation of Principal Nevertheless, defendants allegedly misappropriated in excess of $2.4 million in principal funds from investors. This action directly contravened the agreements that promised principal protection and return.
6. Funds Not Invested In some instances, investor principal funds were not invested at all. Instead, the defendants allegedly simply retained and misappropriated the entirety of those funds for their own personal use.
7. Concealment Tactics When investors requested status updates or redemptions, the defendants allegedly concealed the misappropriation. They employed a series of excuses and other deceptive acts to hide the fact that their principal funds were gone.

The Enforcement Action

On April 7, 2026, the SEC filed charges against Gianoplus Consortia LLC, Michael Peter Gianoplus, and Traci Leigh Bransford-Marquis in the U.S. District Court for the Middle District of Florida. The complaint charges defendants with violating Sections 17(a)(1) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil money penalties.

Named in this action: Gianoplus Consortia LLC, Michael Peter Gianoplus, Traci Leigh Bransford-Marquis.

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