Peiffer Rosca Wolf Investigating Bill C. (Billy) Crafton Jr., Financial Advisor to Athletes
The Peiffer Rosca Wolf investment recovery lawyers are actively investigating Billy Crafton, who allegedly took undisclosed payoffs to pump up a Ponzi scheme, according to SEC reports currently under review by attorneys Joe Peiffer and Jason Kane.
On December 10, the SEC levied charges against Bill C. (Billy) Crafton Jr., of San Diego, who counseled professional athletes on their finances, and allegedly engaged in fraudulent misconduct that violated federal securities laws.
It is important to note that the SEC reported that Crafton agreed to plead guilty to criminal conduct, and thus waiving the right to a jury trial and any assertion of double jeopardy.
Crafton Allegedly Misrepresented to Clients that He Received More than $1.5 Million to Recommend Investments; Involved Athletes in Now-defunct Westmoore Lending Opportunity Fund
From 2006 to 2011, Crafton knowingly misrepresented or failed to disclose to his clients the fact that he received more than $1.5 million in payments to recommend investments he put the athletes in, according to SEC reports currently being reviewed by attorneys Joe Peiffer and Jason Kane.
The SEC further alleges, Crafton put his athlete clients in now-defunct entities called the Westmoore Lending Opportunity Fund and various financial entities using variations of the name Westmoore. Crafton reportedly took in more than $466,000 in undisclosed compensation, including $295,000 in undisclosed brokerage payments, and $170,484 in direct payments, the SEC alleges.
Finally, the SEC charged that a string of Anaheim Hills funds, all with the name Westmoore, were simply a Ponzi-like scheme and corporate shell game that had allegedly gouged investors of $50 million. Eventually, Westmoore collapsed.
Investor Fraud Attorneys Investigating
The Peiffer Rosca Wolf fraud attorneys often represent investors who lose money as a result of investment misconduct. They are currently investigating Billy Crafton and various Westmoore investment funds, and the possibility of assisting any investors who believe that they have lost money. 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 investment through investments with Billy Crafton and various Westmoore investment funds may contact the investment fraud attorneys at Peiffer Rosca Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Bill C. Crafton Jr.
Status: INVESTIGATED by Peiffer Rosca.
For brokercheck report and additional info click here!