SEC v. Ross Gregory Erskine — U.S. Securities and Exchange Commission Litigation Release No. 26559, dated June 3, 2026.
The SEC charged Ross Gregory Erskine with defrauding investors in a fraudulent securities offering by LFS Funding Limited Partnership. Erskine provided misleading private placement memorandums and solicited investors for commissions. He was permanently enjoined from violating securities laws and ordered to pay disgorgement, prejudgment interest, and a civil penalty.
Imagine someone selling shares in a special club. They told people it was a great investment, but the information they gave out was not true. This person also wasn't supposed to be selling these shares, but they did it anyway to earn money. The government stepped in and stopped them from doing it again, and made them pay back some of the money they took and a fine.
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.
On May 20, 2026, the U.S. District Court for the Central District of California entered a final judgment as to Ross Gregory Erskine in connection with the SEC’s civil enforcement action. The Court found that Erskine violated Sections 15(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 5 and 17(a) of the Securities Act of 1933. The final judgment permanently enjoins Erskine from violating these provisions and from soliciting any person or entity to purchase or sell any security. The Court ordered Erskine to pay, jointly and severally with his business entities, disgorgement of $60,625 with prejudgment interest of $15,450.03 and a civil penalty of $100,000.
Named in this action: Ross Gregory Erskine.