Weston Capital Asset Management and Albert Hallac Accused of Committing Securities Fraud

Investment fraud lawyers New OrleansWeston Capital Asset Management LLC and its principal Albert Hallac perpetuated a fraud at a cost of more than $17 million to a hedge fund managed by Weston and Hallac, according to a complaint filed by the Securities and Exchange Commission (“SEC”).

The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter.

Weston and Hallac are accused of illegally draining more than $17 million from Wimbledon Fund SPC Class TT Segregated Portfolio, a hedge fund that was managed by Weston and Hallac, according to the complaint. The money was transferred under a purported swap transaction with a consulting and investment firm known as Swartz IP Services Inc., according to the SEC.

Hallac authorized the money transfers to Swartz IP while disregarding the investment strategy and objective of the TT Portfolio without conducting any due diligence into Swartz IP or its intended investments, according to the complaint.

Keith Wellner, Weston’s general counsel, knew about the TT Portfolio transfers and assisted Weston and Hallac’s fraudulent activities, according to the SEC.

Hallac, his son Jeffrey Hallac, and Wellner collectively received $750,000 from Swartz IP, according to the complaint. This money was investor money dedicated to the TT Portfolio which had been transferred to Swartz IP, according to the SEC.

TT Portfolio investors continued to receive account statements that falsely represented that their investments were performing well, if not better, than before, according to the complaint.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. 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, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 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.