SEC Accuses Guy S. Della Penna of Orchestrating a $3.8 million Ponzi Scheme
Gaeton “Guy” S. Della Penna is accused of operating a Ponzi scheme that raised over $3.8 million from investors from 2008 to 2013. Della Penna used investors’ funds to make mortgage payments on his 10,000-square-foot home and to make payments to his girlfriend who lived with him in the home, according to a complaint filed by the Securities and Exchange Commission (“SEC”).
Della Penna is also accused of transferring money from new investors to prior investors to represent returns on their investments, according to the complaint. Della Penna provided some investors with false account statements to mislead them into believing they were profiting by investing their money with him, according to the complaint.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.