Prime Pinnacle, LLC, operated by principals Michael J. DaCorta and John J. Woods, was part of a fraudulent investment scheme centered around a purported private equity fund named "Horizon Private Equity, III." The company solicited funds from retail investors, promising high, consistent returns from investments in a "commercial-grade foreign currency exchange trading program." However, according to the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), the company was a Ponzi-like scheme that used new investor funds to pay returns to earlier investors, while the principals misappropriated millions for personal use. In 2021, the SEC filed charges, obtained an asset freeze, and the DOJ brought parallel criminal charges against the operators, effectively shutting down the company.

Founded in

United States