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Matt Levine

Accused Ponzi Schemer Kept Busy

Also startup accounting fraud, last look and Smooth Love Potions.

Programming note: Money Stuff will be off tomorrow, back on Monday.

It is silly season at the U.S. Securities and Exchange Commission, the few weeks leading up to the agency’s Sept. 30 fiscal year end when it brings a slew of miscellaneous enforcement cases every day. Here’s one from yesterday against an alleged $110 million Ponzi scheme run by a guy named John Woods, who allegedly ran both an investment advisory firm called Southport Capital and also an investment-fund-slash-alleged-Ponzi called Horizon Private Equity III LLC. The overall vibe seems to have been “generic Ponzi scheme”; from the SEC complaint: