Bart James Ellis—Investment Fraud

Rochester stockbroker fraud attorneyBart James Ellis Allegedly Defrauded Investors out of Over $1 Million; Ellis Allegedly Claimed to be a Financial Advisor even after Losing His License

Bart James Ellis, of Scottsdale, Arizona and a former financial advisor for Ameriprise and Morgan Stanley, allegedly defrauded investors out of over $1 million, according to Reports from the IRS currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Bart James Ellis’ alleged investment fraud.

Investors who believe they may have lost money in activity related to Bart James Ellis’ alleged investment fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Bart James Ellis has allegedly been arrested by the IRS and indicted on wire-fraud counts, said IRS Reports state.

Ellis allegedly used the money personal expenses including an automobile, a California holiday, cosmetic surgery and other items, according to Reports from Arizona.

The Peiffer Rosca Wolf securities lawyers are currently investigating Bart James Ellis’ alleged investment fraud.

Bart James Ellis Allegedly Lost Money in a Day-trading Account and Did Not Invest as He had Claimed; One Investor Allegedly Sunk $905,000 with Ellis While Former Big League Pitcher Steve Stone Invested $27,500

Bart James Ellis, from 2012 through 2015, allegedly misled investors, by purportedly deceiving them with false financial statements, according to the aforementioned IRS Reports currently under review by attorneys Alan Rosca and James Booker.

Ellis’ bank accounts allegedly showed that Steve Stone, a former Major League baseball pitcher, purportedly invested $27,500 with the alleged fraud, said IRS Reports note.

The bank statements also show that another client allegedly invested $905,000 with Ellis, the IRS Reports state.

Ellis allegedly squandered client money in a day-trading account and did not make investments in the way described to his clients, said IRS Reports note.

Hence, Ellis was reportedly arrested by a special agent with the IRS on March 9, according to the IRS, and also had an initial court appearance and arraignment that day, according to Reports from Arizona.

Ellis allegedly pleaded not guilty to all counts, was released on his personal recognizance and a jury trial has been set for May 2, according to IRS Reports.

In a previous case in 2010 Bart James Ellis allegedly attempted to cover up a scheme by creating entries in a computerized log consisting of 20 telephone conversations, after a client purportedly informed Ameriprise regarding the unauthorized transaction, according to Reports from FINRA.

What is more, Ellis also allegedly failed to appear and provide testimony to FINRA regarding said allegations, in alleged violation of FINRA Rules, according to FINRA Reports.

Ellis was also allegedly previously employed with McLaughlin, Pivel, Vogel, Morgan Stanley & Co. Incorporated and H&R Block Financial Advisors, Inc. in Chicago, Illinois, FINRA notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Bart James Ellis’ alleged investment fraud. 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 Bart James Ellis’ alleged investment fraud may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1125 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.