Wilfred Azar’s Alleged Scheme, Empire Towers, Investigated by Peiffer Wolf Attorneys

investment fraud attorneyThe Peiffer Wolf investor rights lawyers are currently investigating Wilfred T. Azar III, 53, a real estate executive, in connection with his Empire Towers alleged fraud. Wilfred T. Azar III, the former owner of Empire Towers in Glen Burnie, allegedly duped a myriad of investors to put $7 million into the reportedly insolvent Empire Corp., according to a federal indictment from Baltimore currently being reviewed by attorneys Joe Peiffer and James Booker.

Wilfred Azar III, according to said federal indictment, allegedly utilized Empire Towers on Ritchie Highway to convince investors that his company was a sound investment, contrary to reports from federal prosecutors who claim it was although it was essentially insolvent. The indictment also alleges that Wilfred T. Azar reportedly lost the building in bankruptcy proceedings in 2012. Specifically, Wilfred T. Azar III, allegedly committed securities fraud by selling bogus bonds from his Empire Corp., according to the aforementioned federal indictment presently under review by attorneys James Booker and Joe Peiffer.

Wilfred T. Azar III Allegedly Used Investor Money to Finance Exorbitant Lifestyle

Wilfred T. Azar III allegedly used the $7 million from investors to keep up with the Joneses, enjoying a lavish lifestyle that allegedly included yachts, homes in Florida on the Eastern Shore, and season tickets to the Baltimore Ravens, according to federal prosecutors.

Investment Fraud Attorneys Recovery Lawyers Investigating

The Peiffer Wolf investment rights attorneys often represent investors who lose money as a result of investment misconduct. They are currently investigating Wilfred T. Azar and his alleged bogus bond sales, and the possibility of assisting any investors with the recovery of any losses they may have suffered. 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 of alleged improper sales of these Empire Corp. bonds is encouraged to contact the investment rights attorneys at Peiffer Wolf, James Booker or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (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.