The SEC Says a Dallas Investor Screwed Over Her Church in a $2.3 Million Ponzi Scheme

The way she tells it on her website, Delsa Thomas decided to launch her own investment firm after Citi Smith Barney, where she worked, merged with Morgan Stanley. She left in February 2011, taking a decade's worth of experience as a stockbroker and financial advisor to her new outfit, The D. Christopher Capital Management Group, and its flagship Solomon Fund.

The Securities and Exchange Commission gives a slightly different version of events. While at Morgan Stanley Smith Barney, Thomas had been steering clients toward certain high-yield investment vehicles that were, in the SEC's estimation, fraudulent. Investors lost a lot of money. Several sued. Thomas jumped ship before MSSB could fire her.

At D. Christopher Capital Management, Thomas promised large returns extremely quickly. She told a San Antonio real estate investor that she could turn his $1 million into $7.5 million in 35 business days. To a couple of Canadians, she promised a 10-percent return in 10 days. Another, from the European principality of Andorra, was promised his investment would double in 35 days.

She also convinced leaders at Irving's DFW New Beginnings Church, where Thomas is a member, to entrust her with $725,000.

More at http://blogs.dallasobserver.com/unfairpark/2013/02/the_sec_says_a_dallas_investor.php .