The U.S. Securities & Exchange Commission published a statement following a jury verdict in the U.S. District Court for the Southern District of California finding Thomas F. Casey liable for securities fraud after a five-day trial. According to the SEC, the fraudulent securities offering targeted retirees’ retirement accounts and induced more than 200 people to invest over USD 10 million in Golden Genesis, described as a venture to create blood banks to sell human plasma from young donors for anti-aging treatments. The offering allegedly relied on false claims that investors would receive guaranteed high returns and that the investments were secured by company assets; the SEC said the funds were not secured and were used to compensate Casey and to pay other investors, resulting in approximately USD 8 million in losses.
U.S. Securities & Exchange Commission 2025-06-24
U.S. Securities & Exchange Commission wins jury verdict finding Thomas F. Casey liable for fraud in USD 10 million Golden Genesis offering
The U.S. Securities & Exchange Commission announced a jury verdict in the U.S. District Court for the Southern District of California finding Thomas F. Casey liable for securities fraud. The scheme targeted retirees, inducing over 200 individuals to invest more than USD 10 million in Golden Genesis with false promises of high returns and secured investments. The SEC reported that the funds were misused, leading to approximately USD 8 million in losses.