Jasper Buck Investment Fraud Allegations
Jasper Buck, Former Maryland investment advisor, Indicted in $1.9 million Theft Scheme
Jasper Buck, 59, and formerly of Westminster, Maryland, has been indicted by a federal grand jury for alleged mail fraud arising from an alleged investment fraud scheme, according to court reports from Maryland currently under review by attorneys Jason Kane and Joe Peiffer.
Buck worked for mortgage companies, but presented himself to investors as an experienced investment advisor through Portfolio Financial Group (PFG), according to the five count indictment being analyzed by attorneys Jason Kane and Joe Peiffer. The indictment goes onto further allege that from October 2006 through at least December 2014, Buck told his victims that PFG would loan money provided by the investors to borrowers who needed funds quickly.
In fact, there were no such borrowers, the indictment alleges, and Buck used the victims’ money for his own personal use or to further his fraud scheme. The Peiffer Wolf investment recovery lawyers are currently investigating Jasper Buck, and his alleged investment scheme.
Buck Allegedly Told Victims that there Were Other Owners and Employees of PFG
Buck allegedly told his victims that there were other owners and employees of PFG, however, bank accounts for PFG listed Buck as a signatory, and PFG’s addresses were listed as either Buck’s personal residence or shipping and packaging stores such as UPS, according to court reports from Maryland currently under review by attorneys Jason Kane and Joe Peiffer.
Buck also reportedly helped convince some investors to refinance their home mortgages and use lines of credits in order to invest the proceeds with Buck through PFG, and to have promised the victims that they would receive a monthly return on their investments greater than the victims’ monthly loan payments, the court reports allege. By January 2014, said reports note, Buck had used up all of the investors’ money.
Beginning in January 2014, however, Buck allegedly represented that there was no issue with PFG financially, according to court reports from Maryland currently under review by attorneys Jason Kane and Joe Peiffer. As a result of the alleged scheme, Buck obtained at least $1,961,364 from investors, and Buck faces a maximum sentence of 20 years in prison and a $250,000 fine on each of the five counts of mail fraud, court reports also note.
Investment Recovery Lawyers Investigating
The Peiffer Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct, and are currently investigating Jasper Buck, and his alleged fraud. 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.
Any investors who believe they lost money as a result of alleged fraud committed by Jasper Buck may contact the investment rights attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.