What The Heck — Now it’s Charles Petty and Visionary Publishing


What is wrong with information guru’s ?  You would think if they made money, why would they steal it!  Sure he is a virtual investor .. my arse!

CHARLOTTE-RALEIGH — The United States District Court for the Northern District of Georgia has ordered Charles William Petty II and his two companies – Visionary Publishing International LLC and Virtual Properties Worldwide Inc. – to pay $328,706 including penalties for securities fraud in five states and Canada, according to an SEC release.

Judge Richard W. Story entered final judgment ordering the three to pay disgorgement charges of $263,100, pre-judgment interest of $45,606.24 and a civil penalty of $20,000.

Since 2007, Petty and his companies were said to have improperly sold at least $236,000 worth of promissory notes issued by the Visionary companies – calling them “safe and high-yielding” – to at least 11 investors in Georgia, North Carolina, Texas, California, New Jersey, and Canada. Also, he falsely told investors the note proceeds would be invested in real estate and secured by a mortgage security deed on a particular property at a loan-to-value ratio of between 60 percent and 75 percent.

Visionary never created any mortgage security deeds and Petty admitted the note proceeds were never invested in real estate or real estate-related projects.

Over the past decade, Petty has presented himself as real estate investing expert and pushed get-rich-quick schemes that lured investors. His LinkedIn profile indicates that he worked as a corporate and securities lawyer at Kilpatrick Stockton, a law firm headquartered in Atlanta.

SEC release: http://tinyurl.com/6ah39al

U.S. Securities & Exchange Commission
SEC Seal
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U.S. Securities and Exchange Commission

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21885 / March 15, 2011

Securities and Exchange Commission v. Charles William Petty, II, et al., Civil Action No. 1:10-cv-03842-RWS (N.D.GA.)

The Securities and Exchange Commission (“Commission”) announced today that the Honorable Richard W. Story, United States District Judge for the Northern District of Georgia, entered an order and final judgment permanently enjoining Charles William Petty, II (“Petty”), Visionary Publishing International, LLC (“Visionary”), and Virtual Properties Worldwide, Inc. (“Worldwide”) (collectively, “Defendants”). The order and final judgment restrained and enjoined Reynolds from future violations of Sections 5(a), (c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder. Defendants were also ordered to pay disgorgement in the amount of $263,100, pre-judgment interest in the amount of $45,606.24 and a civil penalty in amount of $20,000.

The Court found that, from since at least 2007 to the present, Petty offered and sold at least $236,000 of promissory notes (Notes) issued by the Visionary companies to at least eleven investors in Georgia, North Carolina, Texas, California, New Jersey, and Canada. The Court also found that the defendants generally told investors that the Notes were “safe and high-yielding” and that the Note proceeds would be invested in real estate or “real estate related projects.” The defendants also told investors that each Note would be secured by a mortgage security deed on a particular property in Georgia, Tennessee, Alabama, North Carolina, or South Carolina at a loan to value ratio of no more than 60 to 75%. The Court found that these representations were false because no mortgage security deeds on properties were ever created, and Petty admitted that the Note proceeds were not invested in real estate or real estate related projects.

See also: LR-21756

http://www.sec.gov/litigation/litreleases/2011/lr21885.htm


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Modified: 03/15/2011
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11 thoughts on “What The Heck — Now it’s Charles Petty and Visionary Publishing

  1. rkim777

    I was wondering what happened to his and his wife’s (Kim’s) emails since I used to get a lot of them, especially repeat ones. I opted out of their emails at one time but just kept receiving them. Looks like the BIG opt-out is done by pressing the SEC “Like” button on Facebook.

    Reply
  2. Matt

    Another one bites the dust. Serves him right. Apparently he never read Rich Dad Poor Dad. There are so many legal ways to make money why would you try to do it illegally.

    Reply
  3. Matt

    Same with emails. Constantly coming in and absolutely nothing of value. Just webinar promotion/JV after webinar promotion/JV.

    I’m sure he also paid VA’s to post on Facebook because there were tons of pages filled with his junk and emails coming off of those groups from him as well.

    Luckily if it was just a few in the end that bought into his crap, then damages were limited…the fines should wipe out most of his “profits.”

    Reply
    1. Danny

      I am so glad to see this F*r caught. I bought into his wholesaling crap in Atlanta while I was up here in the D.C Metro and a total newbie to investing from afar. I had decided to take some initiative and get started in real estate. I put a 3500 dollar deposit on a house destined to rehabbed and sold with his ready made crew, but after numerous calls and changed numbers, they just disappeared. I wished I was more diligent to avoid Charles Petty and his scam, but also more aggressive to have flown down there and hunt him down. Live and Learn. Hope he goes bankrupt and monitored.

      Reply
  4. Matthew Pape

    This dude was an idiot. When I got tired from all this endless shit-on-a-stick promotions. It probably took me half an hour to find everything he put me on and get off of it. Even THEN I still got one or two e-mails and removed myself from it. Glad to see he’s been spanked.

    Reply
  5. Mike

    Why isn’t this guy in jail. I was one of the early investors (2002) and have a Writ of fieri Facias on him. I see he is still scamming investors in 2011. He should be getting more than spanked in a jail cell.

    Reply
    1. Mike Stromenger

      Jean Norton..Did the detective say how he can possibly be out there? He scammed me with a credit repair under Bill Charles.

      Reply
  6. Jean Norton

    I heard from the detective that Charles Petty pled guilty in Federal court and is in custody awaiting sentencing on 3/25/16 at 10am in Judge Batten’s Court Room. Anyone is welcome to attend the sentencing.

    2142 Richard B. Russell Federal Building and United States Courthouse
    75 Ted Turner Drive, SW
    Atlanta, GA 30303-3309

    Courtroom: 2106

    Reply

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