Zachary Berkey and Daniel Fischer of Four Points Capital Partners — Alleged Investment Fraud, Charges of Excessive Trading

Zachary S. Berkey and Daniel T. Fischer, Formerly of Four Points Capital Partners, Allegedly Operated a Fraud Scheme which Was Profitable for the Brokers but Costly for Customers; The SEC Announces Continued Efforts to Crackdown on Brokers whom Allegedly Defraud Customers

Zachary S. Berkey of Centerreach, New York, and Daniel T. Fischer of Greenwich, Connecticut, allegedly conducted so-called “in-and-out trading” that had a very high certainty to lose money for customers but also allegedly yielded themselves huge commissions, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading scheme.

Investors who believe they may have lost money in activity related to Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Four Points case comes on the heels of the SEC announcing a continued effort to crackdown on brokers allegedly defrauding customers following similar charges of alleged excessive trading by brokers brought in January, April, and September, the SEC reports.

10 customers of Four Points Capital Partners LLC, the firm where Berkey and Fischer previously worked, purportedly lost a total of $573,867 while Berkey and Fischer purportedly brought in approximately $106,000 and $175,000, respectively, in commissions, the Complaint states.

Berkey and Fischer Allegedly Churned Customer Accounts and Concealed Material Information from Customers; Customers Needed Significant Gains in their Securities Investments in Order to Offset the Significant Cost of Each Transaction

Berkey and Fischer’s customers, in order to realize even a minimal profit, allegedly needed the price of the aforementioned securities to rise significantly in order to offset the significant costs incurred with every transaction, according to the aforementioned Complaint under review by attorney Alan Rosca and James Booker.

What is more, Berkey and Fischer allegedly churned customer accounts and concealed material information from their customers, namely that the costs associated with their recommendations, including commissions and fees, would purportedly almost certainly exceed any potential gains on the trades, said Complaint notes. Fischer also allegedly engaged in unauthorized trading, the Complaint states.

Without admitting or denying the SEC’s allegations, Fischer consented to a final judgment that permanently enjoins him from similar violations in the future and orders him to return his allegedly ill-gotten gains with interest and pay a $160,000 penalty, the Complaint states.

Fischer, meanwhile, allegedly separately agreed to an SEC order barring him from the securities industry and penny stock trading, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading 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 Zachary Berkey and Daniel Fischer of Four Points Capital Partners investment fraud and excessive trading scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1247 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.