Louis Goff Charged with Fraud for Forex Scheme Resulting in Losses of $2.1 Million

Attorney Advising Disclaimer

The SEC charged Wells Fargo broker Louis Peter Goff, Phoenix Outsourced Development, and Edger Solutions Management for participating in a fraudulent high-yield Forex trading program that ultimately resulted in $2.1 million-worth of investor losses.

In a parallel decision, FINRA barred Louis Goff (CRD #4882759) from the securities industry.

Goff, who worked at Wells Fargo Clearing Services in Salt Lake city, Utah from 2011-2023, worked alongside five other individuals—Michael McLaughlin, Derek McLaughlin, Brian Hubbard, Eric Fairborn, and Nicholas Deluca—to raise more than $2.1 million from at least 49 investors for a fraudulent offering split into two funds, POD Solutions LLC and Edger Solutions LLC.

Goff and his co-defendants purportedly told investors these funds would generate "guaranteed" profits while, in the end, they actually resulted in $2.1 million in losses.

The SEC alleges that Goff and the others made material misrepresentations to investors, fabricated monthly account statements, and that the McLaughlins specifically misappropriated investor funds.

If you invested with former Well Fargo representative Louis P Goff or with any broker or investment adviser who sold products away from their employing or registered firm, or whose fraudulent misconduct and material misrepresentations have proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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