James A. Torchia— Ongoing Investment Fraud Involving Promissory Notes and Life Settlement Contracts, Ponzi Scheme
James A. Torchia, through CN Capital, Raised Tens of Millions from Investors who Purchased Unregistered Promissory Notes, Allegedly Touting the Notes as a Secure Investment Capable of Producing Solid Investment Returns
James A. Torchia, since 2009, through CN Capital, has reportedly raised tens of millions of dollars from investors who purchased unregistered promissory notes, most of which promised a 9% return, according to recent SEC Documents currently under review by attorneys Joe Peiffer and Jason Kane.
CN Capital, the SEC Complaint further alleges, essentially operates as an ongoing Ponzi scheme through which said promised investment returns are paid using new investor money. Torchia and CN Capital, meanwhile, allegedly represented to investors that the aforementioned notes were a secure investment capable of generating reliable investment returns, the Complaint reports.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating James A. Torchia’s alleged investment fraud involving promissory notes and life settlement contracts, and would like to talk to investors.
CN Capital’s Multi-million Dollar Per Year Operating Losses nor Massive Insolvency Allegedly Revealed to Investors; CN Acceptance’s Funds Allegedly Commingled with Those of CN Capital, Torchia, CN Capital and CN Acceptance Allegedly violated Securities Act.
CN Capital’s multi-million dollar annual operating losses nor its massive insolvency has ever allegedly been disclosed to investors, according to recent SEC Documents presently being reviewed by attorneys Joe Peiffer and Jason Kane.
The SEC Complaint further alleges that CN Acceptance, another entity operated and controlled by Torchia, allegedly sells unregistered fractional interests in life settlement contracts (LS Interests) to investors and that CN Acceptance purportedly promises to pay the policy premiums using a portion of the purchase price.
Torchia, in reality, allegedly disregarded corporate formalities and mixed CN Acceptance’s funds with those of CN Capital, in such a manner that the LS Interests were threatened by CN Capital’s Insolvency, according to the SEC Complaint. Finally, the Complaint aalleges that Torchia, CN Capital and CN Acceptance violated the registration provisions of the Securities Act.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of Ponzi schemes, and are currently investigating James A. Torchia’s alleged investment fraud and Ponzi schemes. They would like to talk to individuals who invested in the entities that Torchia operates and controls. 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 James A. Torchia allegedly engaging in investment fraud and operating a Ponzi scheme are encouraged to 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.