$75M Ponzi-Type Scheme Run From Minooka House: SEC

MINOOKA, IL — The Securities and Exchange Commission has filed a restraining order and asset freeze in U.S. District Court against Minooka resident Ken Courtright and his company, Todays Growth Consultant Inc. Courtright is accused of running a Ponzi-type scheme that took advantage of more than 500 investors and accepting more than $75 million in funds since 2017, but he has not been charged with any criminal activity in connection with the accusations made by the Securities and Exchange Commission.

Most recently, Courtright ran his business as The Income Store, court files reflect.

"Unless restrained from raising additional investor funds, TGC and Courtright are likely to continue doing so, and to continue using those funds to satisfy its payment obligations to other investors and to pay Courtright's personal expenses, until TGC collapses," this week's unsealed 22-page filing by the SEC shows. "Its recent letter to investors, of December 13, 2019, states that TGC expects to resume payments to investors in April 1, 2020. TGC and Courtright should be enjoined now to preserve the status quo."

Patch Editor John Ferak visited the Ninovan Lake Estates on Wednesday in hopes of interviewing Courtright about the SEC's new case against him.

A maroon car was parked in the driveway of Courtright's brick luxury home that overlooks a lake; Interstate 80 is off in the distance. A half-dozen old newspapers, mostly editions of The Wall State Journal, were piled up in the driveway of the property belonging to Ken and Kerri Courtright on Slalom Court.

Patch rang the doorbell multiple times but nobody answered. A July 10 video posted by The Income Store on YouTube states, "With over 30 years of real marketing experience, Kerri and Ken have a pretty good idea of what works and what doesn't work in the space of internet marketing."

Later, Patch spoke with two women in Ninovan Lake Estates who were out walking over the noon hour. One of them remarked that she would not be surprised if Courtright had left town. By Thursday morning, the Facebook group for Orland Park's Carl Sandburg High School alumni were sharing Wednesday's Patch article.

• "Class of '88," one woman wrote.
• "Wow-I remember sitting with them at a reunion, I think the '88 25 year where people from my year ('89) and '87 attended, and talking to both Courtrights about Minooka as I live here, too. Very interesting..." another Carl Sandburg alum wrote.
• "I'll bet a lot of assets are out of reach in a foreign country. I’ll bet the Courtrights are there as well.When the next recession hits, expect to hear a lot of similar stories as cash flows dry up," a third alum commented.

According to federal court filings, "The SEC, in the interest of protecting the public from any further unscrupulous and illegal activity, brings this action against TGC and Courtright, seeking temporary, preliminary and permanent injunctive relief, disgorgement of all illicit profits and benefits.

"Defendants have received, plus accrued prejudgment interest, and civil monetary penalties. The SEC also seeks an asset freeze; an order appointing a receiver to take possession and control of TGC's assets and business, its customer funds, and the assets and funds of Courtright; and an order prohibiting the destruction of documents, accelerating discovery, and requiring an accounting," the federal filings show.

The Chicago Tribune reported on Wednesday that Courtright, 49, ran the business out of his home in Minooka, and he has informed investors of a “temporary moratorium” on payouts due to cash flow problems, as the website revenue failed to keep up with promised returns.

According to his Twitter profile, Courtright portrays himself as having helped grow over 2,000 businesses. He calls himself a consultant, trainer, speaker, author, husband and father of four.