Business ProfileforIMS LDT, LLC
Current Alerts For This Business
On Friday, March 22, 2022 the Department of Justice, Western Michigan office released the following press release regarding the registered agent for this business entity, Mr Joshua Rupps.
https://www.justice.gov/Usao-wdmi/pr/2022_0325_Rupp
Rupp was sentenced to 16 years in prison and five years of supervised release. Rupp pled guilty to committing securities fraud in November of 2022. The Court ordered Rupp to pay approximately $2.73 million in restitution to the victims of the scheme.
According to the plea agreement and felony information and other public records, from 2015 to 2019, Rupp recruited investors by posing as a licensed broker or trader who worked at one of two different brokerage firms. Rupp told investors that he worked under the supervision of fictitious persons at those firms, one of whom he claimed was his uncle. Rupp also told investors that the principal of the investments could not be lost for various reasons, including his choice of investments, trading strategy, and insurance. Rupp fabricated documents as part of the scheme, including false account statements, a fraudulent securities license, and business documents bearing the logos of the companies for which he claimed to work. Some of the documents stated that he had passed a securities trader qualification examination or that he was registered with the State of Michigan. These claims, and others he made to induce and retain investments, were false. In total, Rupp obtained more than $2.7 million from at least 19 investors, misappropriated more than $500,000 of investors’ funds, and lost most of the remaining funds trading securities.
The U.S. Securities and Exchange Commission filed a civil complaint against Rupp on July 28, 2021, related to some of the conduct charged in the felony information. That case was stayed on the U.S. Attorney’s Office’s motion pending entry of final judgment in the criminal matter.
The BBB will attempt to update the record if more information pending the final judgment of the criminal matter.
At-a-glance
Related Categories
Business Details
- Location of This Business
- 99 Monroe Ave NW STE 200, Grand Rapids, MI 49503-2639
- BBB File Opened:
- 2/25/2021
- Type of Entity:
- Limited Liability Company (LLC)
- Contact Information
Principal
- Mr. Joshua Rupp, Registered Agent
Customer Contact
- Mr. Joshua Rupp, Registered Agent
Customer Complaints
0 Customer Complaints
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