Terrance Taylor— Alleged Investment Fraud
Terrance F. Taylor, Former Executive VP of Savtira Corp. Allegedly Participated in a $5.3 Million Investment Fraud that Purportedly Made Exaggerations of the Company’s Supposed Value, Reportedly Putting it between $450 and $540 Million Despite Meager Earnings
Terrance Taylor, who was executive vice president of Savtira Corp., a now-defunct e- commerce company, allegedly participated in a $5.3M investment fraud that allegedly made exaggerations of the company’s value at between $450 and $540 million despite the business taking in very little money, according to Court Reports from Tampa currently under review by attorneys Joe Peiffer and James Booker.
Peiffer Wolf securities practice lawyers are investigating Terrance Taylor’s alleged investment scheme.
Investors who believe they may have lost money in activity related to Terrance Taylor’s alleged investment scheme are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Taylor allegedly entered a statement in federal court which admitted that he purportedly lied about the company’s projected revenue to investors in a valuation of the company, the Reports note.
Terrance Taylor Reportedly Sentenced to Five Years, Ordered Three Years of Probation, $3.3 Million in Restitution and Forfeiture of $101,313
U.S. District Judge Elizabeth A. Kovachevich has sentenced Taylor to five years after he pled guilty to a wire fraud conspiracy charge, and has also ordered three years of probation for Taylor, $3.3 million in restitution and forfeiture of $101,313 — the purported amount he gained in the scheme, according to the aforementioned Reports under review by attorneys Joe Peiffer and James Booker.
Prosecutors reportedly charged Timothy Roberts, Savtira’s founder and CEO, and Taylor in September 2015, stating that the pair allegedly labeled Savtira as profitable while proclaiming its patents and agreements with nationally known technology firms, the Reports note.
The duo also allegedly made claims that Savtira offered a centralized, cloud-based shopping cart platform that could be utilized by online and traditional retailers in the process of online purchases regardless of the device being used by the buyer, according to Government Reports from Florida.
Reality shows that Savtira allegedly owned no patents and never had a working product, authorities reports. Finally, Savtira's bank account allegedly held a negative balance of over $5,000, according to Court Records in the case.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Terrance Taylor’s alleged investment 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 Terrance Taylor’s alleged investment scheme may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at email@example.com or firstname.lastname@example.org.