Christopher Cervino—Pump and Dump Scheme
Christopher 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 Jason Kane 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 Wolf Carr & Kane 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 Jason Kane 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 Wolf Carr & Kane 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 Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.