Donald Babb and Ralph Ruth Investment Fraud

investor rights lawyersDonald Babb and Ralph Ruth Operated $ 19 Million Investment Scheme

Donald Babb and , of Florida’s Space Coast, orchestrated a $19 million investment scheme that siphoned cash from investors, according to court reports from Florida. Said reports further allege that the pair has been sentenced to more than 10 years each in federal prison for orchestrating the scheme.

Donald Babb and Ralph Ruth were sentenced on January 30 in federal court in Orlando, and were ordered to pay $18.7 million in restitution, according to reports from the Sunshine State. Both Babb and Ruth pleaded guilty to conspiracy to commit wire fraud late last year.

Babb and Ruth Allegedly Made False Misrepresentations that Their Businesses Were Federally Insured

Federal investigators say they falsely represented their businesses as financial institutions that were federally insured and advertised risk-free certificates of deposit for investment opportunities, Florida court reports state.

Authorities say neither man purchased CDs for their investors, and actually used the money to pay earlier investors or to buy luxury items and real estate for themselves.

The Peiffer Wolf Carr & Kane Investment Recovery Attorneys Often Represent Investors

The Peiffer Wolf Carr & Kane investment recovery attorneys often represent investors who lose money as a result of investment misconduct. 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 misconduct may contact the investment recovery attoerneys at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.

phil korosec (1249 Posts)

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.