<\/p>\n
Mike Ayala, CEO of Wavemark Capital,\u00a0speaking on his YouTube channel.<\/p>\n
Screengrab<\/p>\n
A mobile home park is seen in an undated file photo. Federal regulators say an Austin business misled investors who thought they were getting mobile homes.<\/p>\n
Austin American-Statesman<\/p>\n
Mike Ayala portrayed himself as a contrarian trying to help people \u201cinvest for freedom.\u201d\u00a0<\/p>\n
Screengrab of Ayalas website<\/p>\n
Mike Ayala promised his clients returns of up to 14% reselling and renting mobile homes. But federal regulators say the Austin podcast host was operating a\u00a0Ponzi scheme that raked in $9.6 million and used the money to prop up his other companies.<\/p>\n
<\/p>\n
In a federal complaint<\/a>, the U.S. Securities and Exchange Commission said\u00a0Ayala duped 100 investors in at least five\u00a0states.\u00a0<\/p>\n Article continues below this ad<\/p>\n The host of the \u201cInvesting for Freedom\u201d podcast and his Wavemark Capital LLC settled with the government by agreeing not to sell securities again. He did not admit wrongdoing but agreed to pay more than $9.7 million in disgorgement, civil penalties and interest to resolve the case.<\/p>\n Ayala, who says he dedicated himself to helping people achieve \u201cpersonal liberation,<\/a>\u201d did not respond to requests for comment.<\/p>\n The settlement comes after a handful of civil lawsuits in state District Court against\u00a0him, Wavemark and the Wavemark Income Fund. One court entered a default judgment against the company for $55,000, finding for the plaintiffs on their claims of breach of contract and fraud. Another was for $140,000 for breach of contract.\u00a0<\/p>\n Ayala allegedly told investors he would use their funds to buy mobile homes that would be placed in mobile home parks owned and operated by an associated company. He guaranteed returns from 12% to 14% but the SEC and plaintiffs in the civil lawsuits said that was false.\u00a0<\/p>\n Article continues below this ad<\/p>\n \u201cReturns were also not consistent or guaranteed, because (Wavemark Income Fund LLC) had never purchased assets or generated actual returns,\u201d the federal complaint said.<\/p>\n The company told investors they had first lien agreements on the mobile homes they invested in. They were led to believe their loans were backed by assets, but they were not, according to the SEC. Instead, the money was used to cover payroll, debts and operational expenses for Ayala\u2019s other businesses. The funds were under his sole authority.<\/p>\n \u201cAs a result of the Defendants\u2019 misconduct, investors lost the majority of their investment,\u201d the SEC\u00a0said.\u00a0<\/p>\n Wavemark allegedly solicited the funds between October 2021 and February 2025\u00a0\u2014 a timeline that extended past the company being administratively dissolved in 2023.\u00a0<\/p>\n Article continues below this ad<\/p>\n In January 2024, the SEC said, Ayala was struggling to make payments to his investors. He received texts and calls, leading him to pay some of them. About that time, posts on the\u00a0Reddit social media site began popping up<\/a> from investors complaining of late payments.\u00a0<\/p>\n \u201cThey keep telling me they will send out the distributions in a week or two, but that has been going on for 3 months now,\u201d said user Steve20000.<\/p>\n His message kicked off a torrent of social media comments over months from other self-described investors. They complained about\u00a0Ayala\u2019s tactics, his messaging about ongoing investment opportunities and the alleged hypocrisy of the wholesome family image he projected. They\u00a0strategized over legal action and apparent awareness of SEC investigations.<\/p>\n Ayala once had a robust online presence<\/a>,\u00a0styling himself as an unorthodox financial adviser<\/a>, casting doubt on traditional investing narratives and banks. He talked extensively about finding time for his family and contributed to the website Front Row Dads.<\/a><\/p>\n Article continues below this ad<\/p>\n The complaints extend to Ayala\u2019s other company Four Peaks Capital Partners, which users identify as the owner of mobile home parks, saying it, too, missed payments and stopped communicating.\u00a0<\/p>\n \u201cFOUR PEAKS CAPITAL PARTNERS, LLC was formed to bring lucrative, private investment opportunities which have been reserved for the ultra-wealthy to every qualified investor,\u201d the company says on its LinkedIn page.\u00a0<\/p>\n The websites for both Four Peaks Capital Partners and Wavemark Capital LLC\u00a0have been disabled. Ayala\u2019s podcast and YouTube channel have not been updated for more than a year.\u00a0<\/p>\n Article continues below this ad<\/p>\n The settlement between Ayala and the\u00a0SEC is subject to the approval of U.S. District Judge Robert Pitman in Austin.<\/p>\n","protected":false},"excerpt":{"rendered":"Mike Ayala, CEO of Wavemark Capital,\u00a0speaking on his YouTube channel. 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