Jacob Wohl Facing More Legal Action
As far as failed, right-wing political operatives go, there is probably no greater operational failure than Jacob Wohl. Wohl is not known for his accomplishments, but rather for his multiple failed plots to implicate public figures for fictitious sexual assaults. In October 2018, Wohl and his associate, Jack Burkman, tried to implicate U.S. Special Counsel Robert Mueller. In April 2019, they made allegations against 2020 Democratic presidential candidate Pete Buttigieg, and in April 2020 allegations were made against White House Coronavirus Task Force member Dr. Anthony Fauci.
Photo by rightwingwatch.org
According to a report by Roger Sollenberger in Salon on Friday, the Attorney General in Arizona is now “actively pursuing collection efforts” against Wohl. In 2017, Wohl was banned for life by the National Futures Association. The ban came after Wohl refused to cooperate with investigators looking into his hedge fund’s business practices. These investigations led not only to the lifetime ban, but the ban came with a $38,000 fine for misleading investors. Wohl has not paid that fine and now, the Arizona State Attorney General wants to collect that money.
So what was Wohl accused of specifically? According to an article in rightwingwatch.org, “NFA investigators noted that Wohl’s company’s promotional materials “included numerous examples of positive hypothetical performance, were missing disclosures, and mentioned Wohl managing customer funds prior to Wohl and Nex Capital’s (Wohl’s now-defunct company) registration as a commodity trading advisor.” Documents obtained by rightwingwatch.org claim that none of the results offered by Wohl were real, but rather, “backtested hypotheticals.” In other words, the transactions never occurred…the results, were all concocted.
There were other problems with Wohl’s promotional documents. In a 2019 article, The Daily Beast wrote that Wohl’s promotional documents claimed Wohl had nine years of experience as a trader. A review of the material shows that Wohl would have been eight years old when he began trading, an obvious falsehood. Wohl is also facing felony charges in California. There, he is being charged with the unlawful sale of securities, and he has pleaded not guilty. In that case, Wohl is accused of defrauding a man out of $75,000. After losing most of that money, and reporting Wohl to the authorities, the man later committed suicide.