Albert P. Majkowski Jr. Charged with Defrauding Investors
Albert P. Majkowski Jr., an investment professional in Crafton, PA, was charged with defrauding his investors in an alleged investment fraud scheme, according to a federal indictment.
The Peiffer Rosca law firm’s securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.
Majkowski Jr. Accused of Defrauding Investors
Majkowski Jr. took advantage of investors who entrusted their money to him and used their funds to take trips, pay for his children’s college tuition, and pay child support and alimony between August of 2007 and August of 2010, according to the federal prosecutors.
Majkowski Jr. informed potential investors that he had been involved in developing and growing startup companies in the past which had made him independently wealthy, as charged by the prosecutors.
Majkowski Jr. went on to inform his investors that they would receive full accounting for his usage of their money which he never provided, as stated by prosecutors. He was supposed to open bank accounts for two startup businesses – The Queue and The Fifth Platform. Rather than keeping the promise he had made to his investors, Majkowski Jr. placed the money designated for investment in those companies into a bank account belonging to his own company – Newborn Industries – and also into personal bank accounts for himself, his parents, and his son.
The indictment states that in one case $117,825.20 belonging to an investor was wired to his parents’ federal credit union account. Majkowski Jr. used 19 bank accounts in all for his investment fraud scheme.
Majkowski Jr. Indicted for Wire Fraud and Tax Evasion
Majkowski Jr. was indicted on August 5, 2014 on three counts of wire fraud and four counts of tax evasion. He also failed to pay around $199,500 in federal income taxes between 2007 and 2010, according to the prosecutors. His indictment did not specify how many people he is accused of defrauding or how much money he is accused of stealing.
Investor Right Attorneys Investigating Majkowski Jr.’s Alleged Misconduct
The Peiffer Rosca attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors with the recovery of any losses they may have suffered in connection with Albert P. Majkowski Jr. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.