Swashbuckling Silverstein Sunk Investors with Alleged Treasure Ship Fraud
Bruce Silverstein, a partner at Wilmington law firm Young, Conaway, Stargatt & Taylor, has been accused of aiding and abetting a fraud involving the salvage of emeralds off the coast of Key West, Florida. A U.S. District Court for the Southern District of Florida alleges that Bruce Silverstein and his firm Young Conaway Stargatt & Taylor violated federal racketeering laws by participating in a scheme constructed to coax investors to pony up cash in order to retrieve treasure said to be from a pirate shipwreck.
Avast! Silverstien Allegedly Lured Lubbers with Phony Treasure Map
According to reports, Silverstein’s and Young Conaway‘s “pattern of racketeering” was replete with false and deceptive statements about a bogus treasure map and the discovery of emeralds. Their activity also reportedly involved filing false affidavits and documents with the courts in Delaware and Florida and even plummeted to the nadir of attempts to obstruct justice by threatening potential witnesses.
Foibles Unfolding in Messy Key West Treasure Hunt
The Key West chronicles reportedly involve colorful characters and adventurism. Amateur treasure hunter Jay Miscovich allegedly purported to have found thousands of emeralds on the floor of the Gulf of Mexico after buying a treasure map from a handyman in a bar. Miscovich reportedly committed suicide a year ago. Then, in what reads like a bad TV movie, earlier this year a jewelry store owner reportedly shocked a Florida courtroom by revealing that said emeralds were purchased from him for about $80,000, yet test results showed that the stones had been covered with modern epoxy to enhance their luster. Young Conaway reportedly represented Miscovich’s treasure hunting company, JTR Enterprises LLC, a Delaware company created to carry the title to the emeralds and the secret location where X marks the spot. The law firm reportedly had a right to a share of the emeralds and anything recovered, according to an affidavit filed by Silverstein.
Investment Fraud Lawyers Investigating
The Peiffer Rosca Wolf securities attorneys often represent investors who lose money as a result of investment fraud. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.