The Peiffer Wolf Hot on the Trail of Alleged Staten Island Boiler Room, Premier Links

investment fraud attorneyThe Peiffer Wolf investment fraud attorneys are currently investing a Staten-Island investment firm, Premier Links.

The SEC recently charged the Premier Links outfit with running an alleged boiler room scheme which reportedly targeted seniors to pool their money into speculative start-up companies, according to SEC documents being scoured by attorneys James Booker and Joe Peiffer.

In sum, the SEC alleges that Premier Links, Malloy, Damon, and Ruffin fraudulently obtained at least $9 million from more than 300 investors across the country by building a phony relationship of trust and confidence with them.

The SEC documents further allege that Dwayne Malloy, Chris Damon, and Theirry Ruffin allegedly “treated vulnerable older investors as their personal ATM machines,” cold-calling names from a Premier Links Inc., and reportedly using high-pressure sales tactics to persuade the seniors to invest in companies supposedly on the brink of executing juicy initial public offerings (IPOs).

As attorneys James Booker and Joe Peiffer continue to survey these SEC documents, the more it is revealed that Malloy, Damon and Ruffin allegedly never disclosed to the investors that only a small percentage of the cash would be transferred to the promoted companies, as Premier Links reportedly diverted investor funds to other entities controlled by the sales representatives or other associates.

Damon and Malloy allegedly went so far as to spend months earning the trust of an elderly veteran in order to defraud him of $300,000, according to said SEC papers.

What is more, Premier Links has never actually been registered with the SEC as a broker-dealer as required under the federal securities laws to conduct this type of business with investors, according to the SEC’s complaint filed in U.S. District Court for the Eastern District of New York.

Investor Fraud Attorneys Investigating

The Peiffer Wolf fraud attorneys often represent investors who lose money as a result of investment misconduct. They are currently investigating Premier Links, Malloy, Damon, and Ruffin, and the possibility of assisting any investors who believe that they have lost money with the firm or these respective investment advisors. 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.

Any investors who believe they lost money as a result investment through investments with Premier Links, Malloy, Damon, and Ruffin may contact the investment fraud attorneys at Peiffer Wolf, James Booker or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 8(216) 589-9280.

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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.