Indiana Investment Professional Charged with Fraud
Lynn A. Simon, an Evansville investment adviser, has been charged with securities fraud for allegedly swindling investors in his area of more than $1 million.
Investigation by securities lawyers Alan Rosca and Joe Peiffer established that Lynn Simon was a licensed investment professional, working out of a Kokomo, Indiana branch office.
Simon also operated a satellite office in Evansville and conducted securities business through an outside business called Financial Securities Planning, Inc., according to regulatory documents reviewed by attorneys Rosca and Peiffer. He also sold insurance products under The Insurance Shoppe name.
Lynn Simon orchestrated his alleged fraud under the Financial Securities Planning, Inc. umbrella, regulatory documents suggest.
Many of Simon’s victims were elderly investors, according to case records. His victims included a elderly couple in Posey County that lost $50,000 invested with Simon, which they were planning to use for their retirement.
Attorneys Rosca and Peiffer’s investigation suggests Simon solicited investments from his victims for a supposed private fund he claimed to operate. Court documents reviewed by attorneys Rosca and Peiffer indicate Simon promised guaranteed returns as high as 11 percent annually.
Attorneys Rosca and Peiffer have determined that at all relevant times Lynn Simon was employed by a financial service firm that had a duty to adequately supervise his sales of securities to the investing public.
“We will continue to hold accountable those financial professionals and those who have a duty to supervise them, when the investing public is defrauded,” said attorney Joe Peiffer. “When broker-dealer firms fail in their duties to supervise their investment professionals, investors may suffer the consequences,” said attorney Alan Rosca.
Attorneys Rosca and Peiffer are preparing to take action on behalf of Lynn Simon’s victims and seek to recover their losses. Lynn Simon victims may contact attorneys Alan Rosca or Joe Peiffer for a free evaluation of their loss recovery options, toll free at 888-998-0520.
Broker: Lynn A. Simon
Status: INVESTIGATED by Peiffer Rosca.
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