Retirees Sue Broad Street Over Alleged Half-Billion Dollar Scam

Retirees Paula and Stephen Darby are suing Broad Street Global Management, LLC, BroadStreet, Inc, Steven Baldassarra, and Joseph Baldassarra in a Miami federal court over alleged financial mismanagement of their investments.

The couple, both 77 years old, claim that the defendants 'are trying to steal over half a billion dollars from their own investors,' including themselves. They are seeking a judge to appoint a receiver over Broad Street Global Fund and dissolve its assets.

The case is linked to Z Squared, a public company with a fleet of Dogecoin mining rigs acquired through the fund's investment. The SEC has been investigating the fund since January 2025, alleging it collected more than $1 billion from over 1,000 investors with promises of outrageous returns.

The Broad Street Global Fund allegedly transferred interest from some of its investors into Z Squared's stock, which has declined 76% in value over the past year. The company's own books show that its mining fleet generated money-losing revenue, with a net loss of $13.8 million in the second quarter of 2026.