Ernest Romer Lawsuit

Ernest Romer Lawsuit

From approximately 2014 through 2016, Romer defrauded at least 30 of his retail brokerage customers out of approximately $2.7 million.

During that time period, Romer worked as a registered representative associated with CoreCap Investments, Inc., a registered broker-dealer with the SEC (“CoreCap Investments”).

Romer persuaded at least 30 of his customers to sell securities in their CoreCap Investments accounts and transfer the proceeds to either P&R Capital, LLC (“P&R Capital”) or CoreCap Solutions, LLC (“CoreCap Solutions”). Romer represented to customers that upon transferring money to P&R Capital and CoreCap Solutions, he would invest their money in the stock market and earn them a better return than their current investments. Based on Romer’s representations, the customers understood that CoreCap Solutions and P&R Capital were affiliated with CoreCap Investments.

Defrauded by Ernest J. Romer?

If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf Carr & Kane has represented thousands of victims, and we remain committed to fighting on behalf of investors.

Contact Peiffer Wolf Carr & Kane today by filling out a Contact Form on our website or by calling 585-310-5140 to schedule a FREE Case Evaluation.

Ernest J. Romer Lawsuit

According to the SEC’s complaint, “Romer’s statements to his customers were false. P&R Capital and CoreCap Solutions were Romer’s personal businesses and had no relationship to CoreCap Investments. Romer did not invest the customers’ money in the stock market for their benefit. He instead stole the money for his own personal use. Romer commingled approximately $2.7 million of customer funds with his advances from CoreCap Investments and other sources for a total of approximately $4.4 million. Of that, Romer used approximately $3.5 million for trading in his personal brokerage accounts, paid approximately $714,000 to cover his personal expenses, paid approximately $343,000 to customers of his prior brokerage firms, paid approximately $302,000 to customers of CoreCap Investments, and transferred approximately $41,000 to family members.”

The SEC’s complaint continued and stated, “by engaging in this conduct, Romer violated Section 17(a) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)] and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 [17 C.F.R. § 240.10b-5].

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If you believe you were a victim of predatory lending, investment fraud, or broker misconduct, it is imperative to take action. Peiffer Wolf Carr & Kane has represented thousands of victims, and we remain committed to fighting on behalf of investors.

Contact Peiffer Wolf Carr & Kane today by filling out a Contact Form on our website or by calling 585-310-5140 to schedule a FREE Case Evaluation.

Peiffer Wolf (1295 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.