A Cudahy family is being charged with securities fraud after allegedly taking peoples’ funds to invest without being legally certified to do so and then refusing to return those funds.
Jeff, Lynette and Cody Lister are named as defendants in the case, which was filed against them by Milwaukee County resident Wilson Rodriguez Jr. Jeff and Lynette Lister are the parents of Cody Lister.
The lawsuit alleges that for the past several years, the Lister family has been engaged in a fraudulent scheme to manage cryptocurrency and other digital assets on behalf of others for a fee.
Cody Lister allegedly accepted funds and digital assets from more than 10 other people and then invested these assets for a fee.
The complaint states those fees were then pooled into accounts that belonged to Jeff and Lynette Lister.
No one in the family has the proper certification that would allow them to legally manage, invest or trade funds on behalf of others, according to the complaint. Cody Lister also failed to register with the Securities and Exchange Commission or the Commodity Futures Trading Commission.
“Lister specifically stated in a video chat that he was permitted to trade cryptocurrency on behalf of others,” reads the complaint.
The complaint says Lynette Lister first met Rodriguez while working as his real estate agent, encouraging Rodriguez to discuss cryptocurrency with Cody Lister because of his supposed knowledge. She is listed as an agent with Berkshire…
