Technology Management Solutions LLC and Tactical Solutions Group LLC Ponzi Scheme InvestigationTuesday, October 22, 2019
A West Virginia pharmacist was arrested on 26-count federal indictment for her role in a multi-million dollar Ponzi scheme that she ran with her late husband. Natalie Cochran and her husband Michael Cochran owned and operated two companies, Technology Management Solutions LLC and Tactical Solutions Group LLC. Both of these companies were registered as federal government contractors. Investors were led to believe that their money was being invested in contracts awarded to these companies, and they would receive a portion of the profits when the contract was completed.
This was not the case, these two companies had never actually received any federal contracts, and the state contracts that they had obtained were later voided for lack of performance. They had obtained funding from 11 investors that raised more than $2.5 million. As with most Ponzi schemes, the new investor funds were being used to pay out those who had been with them longer. Most of the funds, an estimated $1 million were used to on their lavish lifestyle that included; eating at expensive restaurants, taking vacations and the purchase of person properties and vehicles.
Additionally, the Cochran’s also misused funds from the Shady Spring Youth Baseball League in West Virginia. Authorities believe that there was a series of strange expenditures that had taken place while Cochran had access to the account.
Authorities are still looking into the cause of her husband’s death while she is being investigated for her role in the Ponzi scheme. She could face up to 30 if convicted for the impending charges.
The attorneys at ChapmanAlbin have helped hundreds of investors recover millions of dollars in money lost due to investment fraud and other misconduct. If you invested and lost money you may be able to recover. Call us today at 1-877-410-8172 for a free consultation.