Previous radio character Dawn Bennett, 54, who hosted “Financial Myth Busting with Dawn Bennett,” remains in severe legal problem ever being captured in a plan where she had the ability to pocket half of what she raised from listeners over a period of 2 and a half years. She was charged on Monday with fraudulently raising $20 million.
Barron’s publication called Bennett 3 times to its lists of leading monetary advisors, revealing her handling more than $1 billion in customer possessions. Her company initially appeared in Barron’s in 2009 on its list of “Top 100 Women Financial Advisors.” Bennett ranked 5th. Later on, that year, the United States Securities and Exchange Commission (SEC) competes she made another submission to Barron’s for its list of “Top 100 Independent Financial Advisors” and she was ranked 26th. Part of Bennett’s legal concerns associated with her repurposing her rankings on Barron’s lists, according to the SEC.
The cash Bennett raised was taken mainly from senior or unsophisticated financiers. An examination headed by Federal Bureau of Investigation Special Agent Keith Custer found at least 46 financiers who were guaranteed yearly returns as high as 15 percent. At least 2 of those customers declare they lost more than $1 million. The cash was in fact used to pay back Bennett’s preliminary financiers, purchase high-ends such as shoes and other clothing and repay lease to the Dallas Cowboys for a premium suite at AT&T Stadium.
A search of Bennett’s home also exposed the odd method which Bennett prepared to ward off legal problem. 2 freezers consisting of sealed Mason containers identified with the initials of SEC lawyers upon which Bennett was intending to cast a “hoodoo spell” (or “voodoo spell”) to avoid finding her fraud. The spell was particularly described as a “Beef Tongue Shut Up Hoodoo Spell”. Custer stated these require a spell-caster to say the name of the person targeted followed by “I cross and cover you [,] come under my command  I command you to hold your tongue.” Seemingly, it didn’t work.
At a hearing in February, the SEC looked for a cease-and-desist order versus Bennett, along with an irreversible restriction from the securities market and $4 million in fines and disgorgement. She was formally prohibited from the market in July 2016 after she opposed the enforcement case versus her by overlooking it and avoiding the administrative hearing, selecting not to safeguard herself. “When you do not appear, that normally means you’ve got absolutely nothing left,” stated David Chase, a previous SEC enforcement lawyer.
A declaration that was published on Finra’s BrokerCheck in reaction to the SEC’s examination stated, “Ms. Bennett rejects all accusations of any misdeed. She will intensely protect this case at the earliest possible minute but in the correct online forum. When all the truths emerge, not simply those the SEC decides to concentrate on, Ms. Bennett expects she will be totally vindicated.”.
Bennett was officially charged with bank and wire scams in addition to making deceptive declarations on loan and credit applications. Civil charges were also submitted versus her company DJB Holdings LLC, a luxury sports clothing company running as DJBennet.