SEC
Whistleblower
Attorneys

August 11, 2017

Jay Belson, Smarte Real Estate Investments, Inc., Jack Rockman, LLC, John Blackstone, LLC, Residence at St. Ives, LLC, Bellagio Place Residence, LLC

Offering Fraud

SANCTION AMOUNT: Approximately $7,525,000

Defendants: Smarte Real Estate Investments, Inc., Jack Rockman, LLC, John Blackstone, LLC, Residence at St. Ives, LLC, Bellagio Place Residence, LLC
Jay Belson

Defendant Belson and the other five Defendants, real estate development companies that he controlled, agreed to settle charges of defrauding investors in purported southern California real estate "flips." Among other things, Belson allegedly promised investors a minimum rate of return and that he and his companies would only be paid from profits, but instead used nearly $2 million on office rent, utilities and salaries.

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