Two check cashing locations in San Diego, California which provide money order, check cashing and bill payment services, as well as “investment opportunities.”

Project Description

Douglas Wilson Companies (DWC), agent for Receiver, was tasked to secure, manage, and maintain the homes and lots.

Scope of Work

This project involved an alleged affinity fraud scheme within the San Diego Somali community. The owner of the check cashing locations solicited investments in $10K increments with the promise of a $500 monthly return on investment. The alleged Ponzi scheme netted $3M in investments. Project managers took over and eventually closed the two check cashing stores, investigated the diversion of funds, and attempted to recover the amounts invested. DWC continued to work with the Securities and Exchange Commission  and Federal Bureau of Investigation in the ongoing investigation.

Project Resolution

DWC’s findings were accepted and the receivership ended.

Project Name

Shidaal Express, Inc.

Client

United States District Court, Southern District of California

Location

CA

Service Provided

    Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.

    ADDRESS

    1620 Fifth Avenue
    Suite 400
    San Diego, California 92101

    PHONE

    (619) 641-1141

    EMAIL

    info@douglaswilson.com