85.5 F
The Villages
Monday, May 16, 2022

Villager under SEC cloud reportedly reaching out to investors again

A Villager named in a Securities and Exchange Commission emergency action is reportedly reaching out to investors again.

John Gissas of Retirement Evolution Group LLC of Wildwood is accused of raising money for Par Funding, whose owners made “opportunistic loans” to small business owners across America – some at interest rates as high as 400 percent, according to the SEC filing. Gissas has raised more than $5.4 million from at least 62 investors for Par Funding through the offer and sale of promissory notes. Gissas, who lives in the Village of Gilchrist, is among numerous defendants named in the SEC filing.

Gissas, whose office is located at Freedom Plaza on State Road 44 near Brownwood, was named in July in the SEC complaint. The SEC locked him out of the office and froze his assets.

John Gissas of Retirement Evolution Group LLC organized presentations at VKI Japanese Steakhouse at Lake Sumter Landing.

It appears Gissas is eager to get back in business.

Gissas’ attorney was successful in having the court lift the asset freeze on Retirement Evolution Group’s non-Par Funding assets and release the lockdown on his office, so that he can continue to operate the non-involved investments.

The Retirement Evolution Group office at Freedom Plaza near Brownwood

In return, he agreed to wire transfer $1.2 million of Par Funding money from his Wells Fargo business account to the checking account of the SEC receiver.

Gissas found his flock of investors in The Villages by publishing newspaper ads promising lunch and dinner, as well as outlandish investment returns.

Gissas is reportedly back in touch with his clients and putting his own spin on the SEC’s actions.

Rick Woolf

Villager Rick Woolf is a former U.S. assistant attorney with the Department of Justice who has been following the Gissas case and has spoken with Villagers who invested with Gissas.

“I am angered by the alleged deplorable actions of Villager John Gissas of Retirement Evolution Group of Wildwood in scamming fellow Villagers out of their hard-earned retirement funds. The funds he is accused of raising for Par Funding through free lunch and dinner seminars are an unconscionable scheme to take advantage of the vulnerability of our elderly seniors. I am aware of the financial and emotional grief they are suffering,” Woolf said.

He has been acting as a liaison to put those fellow Villagers in touch with competent professionals who can help them recover their funds.

Woolf can be reached at  [email protected] or (954) 816-8699.

More Headlines
Stories in and around The Villages, Florida

The Villages, Florida

Letters to the Editor
Opinions submitted by residents in and around The Villages

We need to hold our elected leaders accountable

In a Letter to the Editor, a Villager contends we need to hold elected leaders accountable and they should maintain the lifestyle residents bought into.

It’s wrong to picket the homes of U.S. Supreme Court justices

A Village of De La Vista resident says it’s wrong to picket the homes of U.S. Supreme Court justices over the leaked Roe v. Wade opinion. Read his Letter to the Editor.

We need more seating at Brownwood and not a windmill and water tower

A Village of Dunedin resident, in a Letter to the Editor, contends we need more seating at Brownwood and not a windmill and water tower.

Punishing Disney is wrong

A Village of Chitty Chatty resident writes that Disney has been paying its fair share and should not be punished by elected officials. Read his Letter to the Editor.

It is scary what is happening to the United States of America

A resident of the Haciendas of Mission Hills reacts to a previous Letter to the Editor asking, “What has become of our country?”

The Villages, Florida