Illinois Secretary of State Alexi Giannoulias is issuing an urgent warning to residents following reports that a man known as Mr. Finance is attempting to lure investors into another questionable business venture. Brandon Ellington, who is already facing accusations of orchestrating a massive Ponzi scheme, has allegedly begun using email campaigns and a personal website to solicit funds for a new entity called Rich Kats Designer Fragrances.
This latest activity comes while Ellington remains embroiled in legal battles over his previous company, Access Capital Today. According to lawsuits, Ellington used television appearances, radio spots, and presentations at local churches to convince victims to liquidate their retirement accounts or secure high interest loans. He reportedly promised substantial monthly returns but vanished once the targets had made several payments. One victim claimed losses totaling 160 thousand dollars.
In response to these new solicitation efforts, the state has issued a Temporary Order of Prohibition and Cease and Desist Order against Ellington. Officials allege that he is illegally marketing unregistered securities and business opportunities via his fragrance brand’s digital platforms. The Secretary of State’s office noted that they have already identified more than 300 individuals targeted by this most recent campaign.
Secretary Giannoulias emphasized the danger posed by these empty promises, noting that too many people have already jeopardized their financial futures based on claims that never materialized. He urged any citizen contacted by Mr. Finance to walk away immediately and report the encounter to his office to prevent further victimization. While reporters have attempted to reach Ellington for comment regarding the ongoing litigation, he has not provided a response and remains barred from selling securities within the state of Illinois.