Richard Schwartz Fraud Recovery Options for Investors
Richard Schwartz, an investment advisor formerly in Kokomo, Indiana, has been accused by regulators of perpetrating a fraudulent investment scheme that victimized scores of investors across the country, under the umbrella of RAS & Associates, his investment advisory firm.
Richard Schwartz was a licensed securities stockbroker, affiliated with securities broker-dealer firms throughout his career, according to regulatory documents reviewed by securities attorneys Jason Kane and Joe Peiffer. He took his own life shortly after fraud allegations emerged, in August this year.
“Investors who lose money as a result of their stockbroker’s misconduct or fraudulent activities may be able to seek compensation for their losses from the securities broker-dealer firms that authorized such stockbroker to sell investments to the public but failed to adequately supervise his activities,” said attorney Jason Kane.
“We will continue to seek compensation, on behalf of our clients, from securities broker-dealer firms that fail in their duties to supervise their investment professionals and prevent them from victimizing the investing public,” said attorney Joe Peiffer.
Richard Schwartz had a history of regulatory and disciplinary problems, according to evidence reviewed by attorneys Jason Kane and Joe Peiffer.
“Investment advisors with a tainted professional background must be put under increased supervision under the securities industry rules,” said attorney Jason Kane.
Schwartz appears to have been perpetrating a Ponzi scheme, according to the regulators’ allegations and media reports. Typically, when a Ponzi scheme collapses, recovery from the scheme itself is minimal, as a large part of the funds are lost or spent by the schemes’ perpetrators to finance their lavish lifestyles. Richard Schwartz too had a luxurious lifestyle according to media reports, including exotic cars and large, frequent parties.
Attorneys Jason Kane and Joe Peiffer are preparing to take action on behalf of Richard Schwartz investors. They plan to seek compensation for investors in FINRA arbitration against the securities broker-dealers that employed Schwartz but, they believe, failed to adequately supervise his investment-related activities.
Richard Schwartz investors are encouraged to contact attorneys Jason Kane or Joe Peiffer, at 585-310-5140, for a free, no-obligation evaluation of their recovery options.