Louis Blazer— Allegedly Defrauding Athletes, Misappropriation of Funds
Pittsburgh’s Louis Martin Blazer III Allegedly Misappropriated Funds from Athletes while Purportedly Using Said Funds to Invest in Movie Projects and Issue Ponzi-like Payments; Blazer Had Been Barred by the SEC from the Securities Industry in 2016
Louis Blazer, a Pittsburgh, Pennsylvania-based financial who heads Blazer Capital Management, allegedly misappropriated money from the accounts of multiple professional athletes, according to a release from the SEC currently under review by attorneys Jason Kane and James Booker.
Investors who believe they may have lost money in activity related to Louis Blazer’s alleged misappropriation of funds are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Louis Blazer’s alleged misappropriation of funds.
Blazer allegedly used said client funds to invest in movie projects and to issue payments in a Ponzi-like fashion, according to the aforementioned SEC release. Blazer then allegedly told lies to SEC examiners who had detected the purportedly unauthorized withdrawals, the release notes. Blazer was also barred by the SEC from the securities industry in 2016, the release notes.
Blazer Ordered by to Make Payments of Nearly $2 Million for Allegedly Defrauding Athletes Such as Greg Little, DeJuan Blair, and Anthony Allen
A final judgement against Louis Blazer has ordered he pay approximately $1.8 million in disgorgement and prejudgement interest and a civil money penalty go $150,000, according to the aforementioned SEC release presently being examined by attorneys Jason Kane and James Booker.
This is apparently not the first time Blazer has been involves in high-profile cases wherein athletes accused him of alleged wrongdoing, according to a report from TribeLive, a Pittsburgh web site.
Blazer allegedly misappropriated $4 million from a professional football player’s account, according to FINRA records dug up by TribLive.
What is more, Allegheny County court records have shown that New Jersey-based First Choice Bank purportedly sued Blazer in 2013 and 2014 for a series of allegedly unpaid loans the adviser signed for as a guaranty, according to TribLive’s report.
Said loans were in the range from $10,000 to $50,000 and were taken out in 2011 by athletes which included former University of Pittsburgh basketball standout DeJuan Blair, former Cleveland Browns star wide receiver Greg Little and former NFL running back Anthony Allen, said TribLive reports note.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Louis Blazer’s alleged misappropriation of funds. 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 Louis Blazer’s alleged misappropriation of funds may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at firstname.lastname@example.org or email@example.com.