Goodness ….WHAT, I say WHAT is in the water in Lower Merion Township? It’s like the summer of rather interesting Lower Merion location articles, n’est-ce pas? August 2nd, I wrote about Josh Verne, touched on Joseph La Forte and other certain Lower Merion denaro-centric scandals…
BUT STOP THE FREAKING PRESSES AGAIN THERE IS A NEW SCANDAL. This one will be a peach. Hat tip to the Philadelphia Business Journal for breaking the story wide open and public…but the guy they mention in the article is not the only one suing their “advisor”…AND once again, yes more fine upstanding Lower Merion Township residents? Perhaps the Magic Kingdom has priced itself out of residents with moral compasses? And I think the Philadelphia Inquirer article is going to be a fan favorite (and the subscription is much more reasonable, sadly, and I like and appreciate the Philadelphia Business Journal as well.)
https://www.inquirer.com/business/scott-mason-rubicon-ponzi-investor-complaint-20240813.html
Yup. Mind blown.
But wait…more articles…from the Philadelphia Business Journal who popped out with these ahead of the Inquirer. All articles are interesting…very interesting….very interesting….
Philadelphia Business Journal Philadelphia-area wealth manager sued for allegedly stealing $20M from client By Jeff Blumenthal – Senior Reporter, Philadelphia Business Journal Aug 6, 2024
And yet another PBJ article came out about others filing suit.
Philadelphia Business Journal: More alleged victims, millions in losses emerge in Philadelphia-area wealth manager case By Jeff Blumenthal – Senior Reporter, Philadelphia Business Journal Aug 8, 2024
Of course I am legit wondering aloud what in the Sam Hell is in the water in Lower Merion these days. And OMG the woman the articles filing suit is the guy’s aunt according to press so far?
Here’s an article from 2005 that shows the beginnings of the SEI relationship with Rubicon/Mason:
https://www.bizjournals.com/philadelphia/stories/2005/05/23/story3.html
Philadelphia Business Journal: SEI tries franchise concept By Larry Rulison – Staff Writer May 23, 2005 Updated May 19, 2005, 11:30am EDT
But this is not the most interesting thing of all, is it? If you cross reference an obituary notice you can verify that this is not the only Mason who has had issues, isn’t it? Like father like son?
(And yes the First Amendment, the SEC, and the New York Times can back this ALL up, can’t it?)
I can’t find much on the Orchard Park whatever business other than this:
However…when I went perusing the Montgomery County dockets I found three cases all filed within the past few weeks plus the SEI related one:
I went and pulled what I could find for Rubicon Wealth Management/Scott Mason. There was a Rubicon Securities on FINRA that was in Bala Cynwyd that looks like it closed up shop in 2002 and when you try to clickaroony on the Rubicon Wealth Management website , https://www.rubiconwealth.com/ it is “not found”. It disappeared apparently as a website? I found some stuff on Zoominfo.
Society snippets of yore, tell their own story, right? Social climbing and needing to belong? Just go noodle through Newspapers.com with their names in it.
I am feeling sarcastic towards Lower Merion Township and their new found “celebrities” but I am seriously wondering what is in the water. In all seriousness, this is kind of disgusting and I think like the other stories of the Nouveau Main Line it is going to grow legs. As an issue, it’s like all these Madoff types came to town isn’t it? It’s sad, gross, disgusting and God don’t like ugly too, isn’t it?
This is all so Ponzi-esque and Madoff-esque isn’t it?
As I close this out, I ask again if perhaps the Magic Kingdom has priced itself out of residents with moral compasses? Is it SO important to live high SO high on the hog? And since I started sharing the Philadelphia Business Journal articles I have received some unpleasant private messages from the 19035. To those people I say wake up. Before this is over how many people will be hurt including their innocent family members? Philadelphia Business Journal and the article about Mason’s Aunt. OMG
This continues to grow legs, including a blip in the Glenside Local. This seems like it will be a tall tale of many articles? The Main Line is so not what it used to be….
But buy more popcorn, Lower Merion’s ugly underbelly is getting another scratch this summer, eh?
The postscript is for those not familiar with that Squires club there was quite an amusing article in Philadelphia Magazine in 2016:
https://www.phillymag.com/news/2016/07/30/squires-the-last-boys-club
Squires: The Last Boys’ Club
High-stakes gambling. Near-death experiences. Semi-naked golf. For decades, what happened inside the exclusive, strictly all-male Squires golf club stayed in the clubhouse — until now.
By Tom McGrath· 7/30/2016, 9:00 p.m.