Ernest Romer— Alleged Embezzlement
Ernest J. Romer III, a Michigan Financial Advisor, Allegedly Embezzled Nearly Half a Million Dollars from Senior Clients; A Warrant Has Been Issued for Romer’s Arrest
Ernest Romer, a 56-year-old financial advisor from Shelby Township, Michigan, allegedly embezzled almost a half million dollars from two senior citizens, according to a recent reports from Michigan currently under review by attorneys Alan Rosca and James Booker.
Investors who believe they may have lost money in activity related to Ernest Homer’s alleged embezzlement of funds are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Rosca Wolf securities lawyers are currently investigating Ernest Homer’s alleged embezzlement of funds.
As Romer allegedly embezzled over $100,000 it becomes a possible alleged offense with a penalty of up to 20 years in prison, according to a press release from Macomb County Prosecutor Eric Smith.
What is more, authorities from Michigan purportedly believe that Romer’s transactions were allegedly a piece of a bigger pattern of felonious financial maneuvers which incorporated a group of investors which may have involved up to 20 purported victims, according to the aforementioned reports.
Romer, While Employed at CoreCap Investments LLC, Allegedly Convinced Investors to Put Money into P&R Capital LLC, a Move which CoreCap Allegedly Had No Knowledge
Ernest Romer, while employed at CoreCap Investments LLC, in Sterling Heights, allegedly persuaded investors to put money into P&R Capital LLC, a move of which CoreCap brass claims they were unaware of and had no previous knowledge, according to reports from Michigan presently under review by attorneys Alan Rosca and James Booker.
Romer allegedly transferred the money to his own personal accounts, according to investors in the case, allegedly conducted a series of securities transactions at a big loss and used said money for his own personal spending at Kroger, Meijer, Walmart, Target, Costco, Red Box, gas stations and restaurants, local officials said.
Romer also allegedly made ATM cash withdrawals on said funds and then purportedly transferred some of the money into personal bank accounts co-owned by his children, reports from Michigan note.
Romer was ordered in August to cease and desist from buying and selling in the securities markets by the Michigan Department of Licensing and Regulatory Affairs, an agency which has purportedly intended to revoke Romer’s securities-agent registration, according to reports from Michigan.
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 Ernest Homer’s alleged embezzlement of funds. 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 Ernest Homer’s alleged embezzlement of funds 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 firstname.lastname@example.org or email@example.com.