INVESTORS:

On August 12, 2021, the United States District Court for the Southern District of Florida entered an Order in an action filed by the Securities and Exchange Commission appointing Corali Lopez-Castro as the Receiver over MJ Capital Funding, LLC and MJ Taxes and More Inc. The S.E.C.’s Complaint alleges that Johanna M. Garcia has used MJ Capital Funding, LLC and MJ Taxes and More Inc. to perpetrate a Ponzi scheme by which investors have been tricked into thinking they are funding loans to small businesses when in reality their “returns” have been funded with money obtained from new investors. The case is styled Securities and Exchange Commission v. MJ Capital Funding, LLC, MJ Taxes and More Inc. and Johanna Garcia, Case No. 21-61644-CIV-SINGHAL. Links to the Complaint and the Order appointing the Receiver are available under the heading “Court Documents” on this page. The Receiver has been directed to take exclusive jurisdiction and possession of all assets of MJ Capital Funding, LLC and MJ Taxes and More Inc. (the “Receivership Defendants”), and to exercise all powers of the officers, directors, managers and general and limited partners of the Receivership Defendants, among other things. Since being appointed the Receiver has been engaged in the process of identifying and securing the Receivership Defendants’ assets, and investigating the Receivership Defendants’ operations and financial affairs. If you were an investor in MJ Capital Funding, LLC or MJ Taxes and More Inc., please enter the information requested in the “Your Information” section on this page.


FREQUENTLY ASKED QUESTIONS (FAQs):

What is the next step I need to take?
After you submit your information, retain the information and documentation regarding funds you invested and payments you received.  You should then check this page periodically for updates.

When will I get my money back?
The Receiver is in the process of determining how much money is owed to investors and recovering money that was paid by investors. We are at the early stage of the receivership process and are unable to provide a specific time frame as to when distributions will be made.  Updates, however, will be provided on this page when the receiver is in a position to propose distributions.

How long does this process usually take?
It is unknown as the Receiver is in the process of investigating the facts of this case including reviewing the records recovered from the offices.  Each receiver case is different, and this one involves many people and extensive records.

What percentage of my investment will I get back?
It is too early to know the percentage.

Will I have to give back the money I earned as interest – even if I have not received my principal back?
The Receiver will determine a claims allowance process that is both fair and reasonable.  Notice will be provided to investors of the claims allowance process.

How much money has been recovered?
We are unable to provide this information at this time.  This information will be provided later in court filings.

Will Johanna face criminal charges?
The Receiver is handling the civil matter so she does not know what the authorities will ultimately decide to do with respect to those responsible.  Any criminal action will be brought by the government, and will be a separate proceeding than from the civil SEC action in which the receiver was appointed.

Will the brokers be investigated?
The receiver will be investigating various matters relating to the receivership estate.  Securities violation investigations are conducted by the Securities and Exchange Commission.  Criminal charges would be investigated and brought by the government.

Why was a mediator hired?
The mediation, which will be held between the SEC and Ms. Garcia, will deal with Ms. Garcia’s civil liability for the pending lawsuit the SEC filed against her.  The Receiver will participate only as an interested party.

Should I hire an attorney?
You have a right to be represented in this matter, however, we are unable to provide you legal advice.

This page is periodically updated with additional information about the case.


LATEST UPDATE FROM RECEIVER




YOUR INFORMATION

  • If you were an investor with MJ Capital Funding, LLC or MJ Taxes and More Inc., you may be entitled to make a claim.
  • Submit your information ONCE please.
MJ Capital Funding

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