Christopher Cervino—Pump and Dump Scheme

Rochester stockbroker fraud attorneyChristopher Cervino Acted in Conjunction with Edward Durante, Allegedly Defrauding Investors through Sale of Stock in VGTel, Inc.

Christopher Cervino, from 2009 to 2015, allegedly operated in conjunction with Edward Durante and other advisors to defraud investors through the sale of stock in VGTel, Inc. (VGTL), which a purported ly a shell company controlled by Durante, according to statements from the U.S. Attorney’s Office (Southern District of New York) currently under review by attorneys Alan Rosca and Joe Peiffer.

Other brokers who have been charged in the alleged VGTel scheme include Larry Werbel, 67, an investment advisor in Cleveland, and Sheik Khan, 52, an adviser in Los Angeles, the U.S. Attorney’s Office reports. Two more individuals allegedly involved in the sales, Walter Reissman and Kenneth Wise, have pleaded guilty to charges and are reportedly cooperating with the government.

The Peiffer Rosca Wolf securities lawyers are currently investigating Christopher Cervino and his alleged investment scheme.

Christopher Cervino Allegedly Accepted Two Payments Totaling $35,000 as Part of Purported$15 Million Scheme Involving About 100 Investors which Traded Stock at Inflated Prices

Christopher Cervino, 43, allegedly accepted two payments totaling $35,000 as part of a scheme to trade stock at inflated prices, according to statements from the U.S. Attorney’s Office (Southern District of New York) presently being reviewed by attorneys Alan Rosca and Joe Peiffer.

Cervino and other brokers allegedly netted at least $15 million from about 100 investors between 2009 and March 2015, the U.S. Attorney’s Office reports.

Cervino, who allegedly faces decades in prison and up to $5 million in fines if convicted, has been arrested and charged with alleged conspiracy, securities fraud, wire fraud and perjury, said Preet Bharara, U.S. Attorney for the Southern District of New York.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment schemes, and are currently investigating Christopher Cervino’s alleged investment scheme. 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 Christopher Cervino’s alleged stock inflation investment scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1163 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.