Rick Siskey—Ponzi Scheme

Rick Siskey, Since Deceased, Allegedly Operated a $51 Million Ponzi Scheme; FBI Records Show that Siskey Allegedly Involved over 100 Investors in a Fund Known as TSI Holdings and Purported Victims Could be Down up to $19 million

Have you are a loved one invested your hard-earned cash in Rick Siskey’s alleged Ponzi scheme?

Rick Siskey, a now deceased Charlotte businessman, allegedly operated a $51 million Ponzi scheme. according to an FBI Affidavit currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Rick Siskey’s alleged Ponzi scheme.

Investors who believe they may have lost money in activity related to Rick Siskey’s alleged Ponzi scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Rick Siskey’s alleged Ponzi scheme allegedly involved over 100 investors in a fund known as TSI Holdings, said FBI Affidavit notes. Purported victims could be out as much as $19 million, said Affidavit notes.

Bankruptcy court Judge Craig Whitley on Monday appointed Joseph Grier as the court-appointed bankruptcy trustee for WSC Holdings, SouthPark Partners and Sharon Road Properties, according to Court Reports from North Carolina.

Moreover, Siskey’s purported victims could be owed over $51 million, a figure which was over double the original amount shown, the FBI notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Rick Siskey’s alleged Ponzi scheme.

Rick Siskey, Who Took His Own Life in December, Had Allegedly Operated Three Additional Firms, WSC Holdings, SouthPark Partners and Sharon Road Properties, which Allegedly Had Liabilities of about $28.7 Million and are Being Pushed inti Bankruptcy

Rick Siskey, who took his own life in December, had operated three additional firms, WSC Holdings, SouthPark Partners and Sharon Road Properties, allegedly had liabilities of about $28.7 million, and are being pushed into a state of bankruptcy, according to the aforementioned FBI Affidavit currently under review by attorneys Alan Rosca and James Booker.
In sum, including about $4 million in interest allegedly owed TSI investors, which moves the total amount up to the aforementioned $51 million, according to reports from Charlotte.

The aforementioned FBI Affidavit allegedly stated that a number of his investors were purportedly “unsophisticated” or elderly, and were putting their money into retirement accounts, pension funds and insurance payouts with Siskey.

Siskey was a North Carolina businessman who worked as a financial planner and insurance salesman who had constructed a well-known practice in Charlotte.

Siskey also purportedly invested in start-up companies and real estate, and in 1995 the YMCA in Mathews, North Carolina was name in Siskey’s honor after the family made a sizeable donation, reports from Charlotte wrote.

Diane Siskey, Rick Siskey’s widow, has allegedly made a pledge to put aside $37.5 million of the $46.94 million in life insurance proceeds from her husband’s death for investors, according to reports from Charlotte.

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 Rick Siskey’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 Rick Siskey’s alleged Ponzi scheme 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 (1200 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.