The Securities and Exchange Commission today announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against Jon P. Kubler and several Nebraska-based entities that he controls–Kubler Consulting, Aksarben Evolution, AV Bhill, CFH Texas, and Green Saddle–for allegedly engaging in a multi-year Ponzi scheme that misappropriated and misused investors’ funds.
According to the SEC’s complaint, unsealed today in the U.S. District Court in the District of Nebraska, since at least 2016, Kubler and his companies raised approximately $5.6 million from investors to purportedly invest in commercial real estate companies but only used 4% of what was raised to make actual investments. The SEC’s complaint alleges that Kubler and his companies fraudulently used new investor money to make Ponzi-like payments to earlier investors in order to deceive investors into believing that the Kubler companies were profitable. The complaint also alleges that Kubler misappropriated investor funds for personal use, including payments for rent on his home, a payment to a winery, payments to purchase antiques, and payments for online dating services.
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