Kevin Brown Imprisoned for 3 Years for $1.6 Million Ponzi Scheme

Kevin Brown, the 40-year old owner of Invision Investments, pleaded guilty to four counts of wire fraud and was sentenced to 3 years in federal prison for operating a Ponzi-style investment scheme. Brown misrepresented to existing and potential investors that their investment would be used to buy and rehabilitate real estate properties and that profit from the turnover… Read more »

Stephen Colangelo Jr. Admits Guilt in $2.7 Million Fraud Scheme

Stephen Colangelo Jr., a hedge fund manager, pleaded guilty to two counts of securities fraud and two counts of wire fraud at the U.S. District Court in Manhattan. Colangelo initially created and controlled a hedge fund called the Brickell Fund L.L.C. under which he misrepresented himself as an investment manager seeking to manage the investment of interested parties for… Read more »

Christopher Orlando Fined, Suspended for Sales of Diversified Lending Group Notes

California investment professional Christopher Orlando has been suspended and fined by the securities industry regulators for his sales of notes issued by Diversified Lending Group, a California fraudulent investment scheme. The securities lawyers at the Peiffer Wolf law firm have been in touch with Orlando investors and have been retained to seek compensation for Diversified Lending Group (DLG) losses.  They have… Read more »

GCA Ponzi Scheme Promoted by Investment Professional Who Recruited Investors

Duncan MacDonald and Gloria Solomon, organizers of the Global Corporate Alliance alleged Ponzi scheme, were assisted by an investment professional who helped recruit investors for the scheme, according to investigation by attorneys Jason Kane and Joe Peiffer. MacDonald and Solomon were sued earlier this year by the Securities and Exchange Commission and by the US Attorney’s office and accused of orchestrating a fraudulent… Read more »

Martin McClary Receives 3 Years in Prison for Multi-Million Investment Scam

Martin McClary was sentenced to three years in prison for an investment scam which swindled 34 investors, including some friends of his family. McClary was said to have been working together with his partner Parry Clark, to solicit investment in Prosidian, a Florida based medical malpractice insurance company. Prosidian was later found to be unregistered and unlicensed despite McClary’s assurance to the victims. McClary collected investment… Read more »

George J. Bussanich, Son Charged with Fraud

George J. Bussanich and his son, George Bussanich, both residents of Bergen County, New Jersey, have been sued by the New Jersey Attorney General and charged with orchestrating a fraudulent investment scheme that bilked more than two dozen investors out millions of dollars. Court documents reviewed by securities lawyers Jason Kane and Joe Peiffer indicates that George Bussanich and… Read more »

Feisal Sharif Ordered to Pay Over $3 Million to Settle Fraud Charges

Feisal Sharif of Branford, Conneticut was ordered by a federal court to pay restitution of $2,230,000 to defrauded customers and a $900,000 civil monetary penalty, in connection with his fraudulent investment scheme, First Financial LLC. Sharif was also sanctioned with permanent trading and registration bans for violations of the Commodity Exchange Act (CEA), according to CFTC complaint. Feisal… Read more »

Jonathan Daspin, Thomas Lekargeren, and ConvergEx Subsidiaries Charged with Fraud

ConvergEx Group subsidiaries, Jonathan Daspin, and Thomas Lekargen were charged with fraud by the Securities and Exchange Commission, for deceiving customers about their commissions and causing them to pay substantially higher amounts that the disclosed values of commissions. The clients paid millions of dollars in unjustified trading fees, according to the charges.  The ConvergEx subsidiaries agreed to pay more than… Read more »

Adorean Boleancu Sentenced to Prison for Stealing $1.8m from Elderly Investor

Adorean Boleancu, 47, of Napa, a former financial advisor and a former vice president at Morgan Stanley & Co. and Wells Fargo Advisors, admitted to forging an elderly client’s name on $1.8 million worth of checks. Boleancu was sentenced in California federal district court to one year and eight months in prison and ordered to pay… Read more »

Glen Galemmo Agrees to Plead Guilty to Wire Fraud and Money Laundering

Glen Galemmo, a Cincinnati investment advisor and founder of Queen City Investment Fund, agreed to plead guilty to wire fraud and money laundering charges. He was charged with running a massive Ponzi scheme promising investment returns would reach more that 400% annually. Between 50 and 200 investors allegedly lost between $7 million and $20 million from Galemmo’s scheme… Read more »