Richard Cody—Investment Fraud Allegations

California stockbroker fraud attorneyRichard G. Cody Allegedly Defrauded at Least Three Clients over a Twelve-year Period by Purportedly Hiding Losses in Their Retirement Accounts; Cody Allegedly Sent Clients Doctored Tax Forms

Richard Cody allegedly orchestrated a multi-year fraud scheme against retired clients by hiding the truth that their retired accounts had purportedly been pilfered, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Richard Cody, a former resident of Massachusetts and current resident of New Jersey, allegedly led clients to believe that their investment funds were holding solid value and that the clients were living off income from their investments, said SEC Documents report.

By, 2014, however, reality caught up to Cody and two of the retirees’ accounts allegedly ran out of steam and out of cash, the SEC Documents report.

Cody allegedly continued to take measures to hide that the retirees’ money was gone by making wire transfers of monthly deposits to the retirees’ bank accounts and also giving the clients doctored tax forms, the SEC Documents state.

The SEC Documents further allege that the aforementioned behavior resulted in Cody’s clients to understand that their retirement savings were safe when, in fact, they were diminished.

The Peiffer Rosca Wolf securities lawyers are investigating Richard Cody’s alleged investment fraud.

Richard G. Cody Allegedly Sent Clients Fraudulent Documents to Create the Illusion that a Big Financial Firm was Holding an Annuity for a Client and Told One Client they Had $1.28 Million in their Account but Really only Held $162, 560

Richard Cody, as late as March 2016, allegedly made lies to a Maryland married couple by allegedly informing a husband and wife that they held $1.28 million left in their investment accounts but in reality their retirement accounts only contained $162,560, according to SEC Documents presently being examined by attorneys Alan Rosca and James Booker.

Richard Cody also allegedly made false representations that the client’s funds had been invested in an annuity and then allegedly sent the client a fraudulent document to create the appearance that a well-known financial firm held an annuity for that client, the SEC Documents also report.

Richard Cody, of Spring Lake, New Jersey had allegedly worked for many years lying to clients about their accounts, has purportedly been defrauding clients out of his RIA, Boston Investment Partners, the SEC Documents note.

Cody allegedly launched Boston Investment Partners in 2009 only one year after FINRA filed a complaint against him, according to the SEC complaint.

The SEC’s Complaint alleges that Cody violated Sections of the Exchange Act and also seeks disgorgement of ill-gotten gains plus interest and penalties as well as permanent injunctive relief.

Furthermore, the SEC also seeks a court-ordered asset freeze against Cody and Boston Investment Partners, which was named as a relief defendant, a temporary restraining order, and a detailed accounting of Cody’s assets, according to the SEC Documents.

Finally, it should be noted that neither the SEC nor FINRA immediately responded to inquiries as to why FINRA suspended Cody for only a year after the discovery of his alleged transgressions and, then, why the SEC subsequently allowed him back into the industry as an RIA, the SEC Documents note.

Cody is no longer registered as an adviser nor licensed as a broker, the SEC reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Richard Cody’s alleged investment 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.

Investors who believe they lost money as a result of Richard Cody’s alleged investment fraud may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1234 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.