Levi David Lindemann—Investment Fraud

investment fraud attorney ClevelandLevi David Lindemann Allegedly Orchestrated a $2.5 Million Investment Fraud with All the Hallmarks of a Ponzi Scheme

Levi David Lindemann, 40, and of Stillwater, Minnesota, allegedly ran a $2.5 million Ponzi scheme, according to Court Documents from Minnesota currently under review by attorneys Joe Peiffer and James Booker.

Levi David Lindemann, through his business, Alternative Wealth Solutions, allegedly ran a Ponzi scheme using cash from clients to pay personal expenses such as a luxury car and to make so-called “interest payments” he purported to be returns to prior investors, said Court Documents note.

Lindemann, from 2009 and November 2014, allegedly owned and operated Gerswin Financial Inc., based in Edina, Minnesota, which operated under the name Alternative Wealth Solutions and allegedly solicitied $4.3 million from 50 investor clients from Minnesota and Wisconsin, the aforementioned Court Documents report.

Through AWS, the Court Documents allege, Lindemann purportedly provided financial planning and asset management services, and sold insurance annuities and investment products.

The Peiffer Wolf securities lawyers are investigating Levi David Lindemann’s alleged Ponzi scheme.

Former Clients Report that Levi David Lindemann Allegedly Promised to Put Their Retirement Saving in Safe, Conservative Investment Instruments, but Instead Purportedly Swindled Their Cash

Levi David Lindemann allegedly promised his clients that he would prudently invest their retirement savings in conservative investment instruments, according to Court Reports currently being examined by attorneys Joe Peiffer and James Booker,

Instead, said Court Documents further allege, Lindemann allegedly stole their retirement savings.

Lindemann allegedly used AWS to solicit about $4.3 million in client funds from approximately 50 investor clients, and then used some of the cash he took in to make Ponzi-style payments to previous investors, Court Documents report.

Court filings further detail how Lindeman allegedly “encouraged his clients to surrender to him their retirement accounts” in order for him to purportedly purchase secured notes or make other legitimate investments.

Many of the clients were not wealthy white collar investors, but rather working class folk who had scrapped and saved for years to earn a decent retirement, Court Documents report.

Reports from Minnesota show that prosecutors on the case have requested a sentence of 108 months, claiming that Lindemann “abused the trust of his investment clients in order to enrich himself at their expense”, according to Court Documents.

Securities Lawyers Investigating

The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes and are currently investigating Levi David Lindemann’s alleged Ponzi scheme. 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 Levi David Lindemann’s alleged Ponzi scheme may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at jpeiffer@pwcklegal.com or jbooker@pwcklegal.com.

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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.