John Lakian Fraud Charges

stockbroker fraud lawyerJohn Lakian, Ex-GOP Candidate for Governor, Faces Fraud Charges in Massachusetts

John Lakian, 72, formerly a star in Massachusetts political circles, has been publicly accused of alleged deceit, and this encounter involves a federal court in New York, according to court documents currently under review by attorneys Alan Rosca and Joe Peiffer.

Lakian was arrested last week along with his girlfriend and charged with allegedly stealing more than $11 million from investors and allegedly trying to defraud banks of $8 million, according to reports from New York. Between February 2009 and July 2013, the indictment further alleges that Lakian and Diane W. Lamm defrauded the investors and banks in three schemes.

The Peiffer Rosca Wolf investment recovery lawyers are currently investigating John Lakian, and his alleged misrepresentation and fraud.

John Lankian, Former Owner of Pangea Capital Management, Allegedly Defrauded Investors

John Lakian and Diane W. Lamm allegedly defrauded investors of a New York firm where Lakian was an owner, Pangea Capital Management, by promising to use their money to buy and consolidate other investment firms, according to court documents currently under review by attorneys Alan Rosca and Joe Peiffer.

Rather than consolidating other investment firms, according to the federal indictment being reviewed by attorneys Alan Rosca and Joe Peiffer, Lakian and Lamm instead allegedly diverted funds to themselves, to restaurant businesses they controlled, and to pay Lakian’s home mortgage.

In a second scheme, prosecutors allege, the Lakian and Lamm allegedly took cash from a North Carolina fund that had 100 investors and again allegedly diverted the money to themselves and to their other business ventures. Lastly, between 2009 and 2012, Lakian and Lamm allegedly submitted fake tax returns and inflated pay stubs when they tried to obtain more than $8 million in loans from four banks in New York, according to the federal indictment.

Investor Rights Lawyers Investigating

The Peiffer Rosca Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct, and are currently investigating John Lakian and Diane W. Lamm, and their 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 John Lakian and Diane W. Lamm may contact the investment rights attorneys at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1247 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.

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.