Kevin F. Hamilton Accused of Defrauding Three Investors
Kevin F. Hamilton, an investment professional in Philadelphia, PA, was charged with converting and/or misusing approximately $522,000 of investor funds as well as making fraudulent misrepresentation and omissions of material facts to investors, as per a FINRA report.
The Peiffer Rosca law firm’s securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter on behalf of investors.
Kevin F. Hamilton Is a Financial Industry Veteran
Hamilton has been a part of the securities industry since January 1983, when he became registered as a General Securities Representative with FINRA-registered firm, Philadelphia Brokerage Corporation, as specified in a FINRA report. In February of 2001, Hamilton became registered as a General Securities Principal and owner of Philadelphia Brokerage Corporation. Hamilton does not have any previous disciplinary history with investment fraud allegations.
Hamilton Allegedly Defrauds Investors
In 2002, Hamilton formed 1041 Partners L.P., a limited partnership marketed by him as an “investment fund,” as stated in a FINRA report. Despite 1041‘s revenue lack and questionable asset value, Hamilton allegedly solicited investments in 1041 by describing it as a “special opportunity” for investors. Hamilton gave prospective investors with a Private Placement Memorandum, informing them their funds would be utilized to actively trade securities, and a PowerPoint describing 1041 as an “Event Driven” private investment fund that presented a “special opportunity.” These resources did not describe 1041‘s assets or financial condition, also failing to state that it had no income or revenues.
Between December 2010 and July 2013, three investors invested $591,000 in 1041 through Hamilton, as per a FINRA report. Hamilton in turn supposedly used these funds to personal uses and expenses such as the payment of his daughter’s wedding and college tuition for his children. He also misused part of the funds to redeem the partnership units of three previous investors in 1041.
Hamilton also allegedly distorted and excluded material facts regarding the sale of 1041 securities to at least three investors, as specified in a FINRA report. Among other things, he did not reveal that he would utilize funds for personal uses, that 1041 did not have any revenues or income, and that 1041‘s two assets had not been professionally appraised or valued by a third party. All of these supposed actions violated FINRA rules, as per a FINRA report
Investor Right Attorneys Investigating Hamilton’s Misconduct
The Peiffer Rosca attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors with the recovery of any losses they may have suffered in connection with Kevin F. Hamilton. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.
Broker: Kevin F. Hamilton
Status: INVESTIGATED by Peiffer Rosca.
For brokercheck report and additional info click here!