SEC
Whistleblower
Attorneys

May 02, 2018

Douglas A. McClain Jr., et al.

Financial Fraud

SANCTION AMOUNT: 9471492.45

Defendants: Douglas A. McClain Jr., et al.

McClain was a member and President of SW Argyll Investments, LLC, and through it operated a fraudulent stock-collateralized loan business with a partner. They induced at least nine issuer affiliates to transfer ownership of millions of shares of publicly traded stock as collateral for purported loans, based on a false promise to return the shares to borrowers upon repayments of the loans. Instead, they simply sold the pledged shares.

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