ATLANTA — A 22-year-old Cartersville man, who played basketball at Allatoona High School in Cobb County and the College of Coastal Georgia, pleaded guilty Friday to defrauding investors out of about $400,000, authorities said.
Kevin Perry pleaded guilty to scamming investors through his company, Lucrative Pips, when he was a teenager, U.S. Attorney BJay Pak said in a news release. He founded the company in 2016, which is when he joined the College of Coastal Georgia basketball team as a freshman.
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His freshman biography page says his career goal was to “become a forex (foreign currency exchange) trader,” but those aspirations instead netted him a felony conviction.
The Commodity Future Trading Commission (CFTC) alleged that he defrauded 30 investors out of at least $400,000. In addition, Lucrative Pips had never been properly registered with the CFTC.
In a complaint filed to Pak’s office, the CFTC said Perry made “false and misleading claims” to potential and existing investors, promising them that their accounts would grow in value from 200% to 350% in less than 60 days. He also fully guaranteed they wouldn’t lose their investments.
However, that didn’t happen.
Read more of this story from the Atlanta Journal-Constitution here.
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