Articles Posted in Ponzi Schemes

Silver Law Group Managing Partner Scott Silver was again quoted in Investment News regarding the new charges by the SEC against the alleged real estate investment company Woodbridge. “I think these types of investments are a massive problem, and it’s bigger than people give credence to,” Mr. Silver said. “Look…

Attorney Scott Silver was quoted in an article from Investment News regarding the recent bankruptcy filing by small business merchant service company 1st Global Capital, and a sister company, 1 West Capital. Prior to the bankruptcy, the SEC and the US Attorney’s office in the Southern District of Florida opened…

Silver Law Group continues to investigate Perry Santillo Jr. (“Santillo”), founder and chief executive of High Point Wealth Management. According to a recent Investment News article, Santillo was barred by Maryland regulators for “dishonest and unethical trade practices,” that included selling unregistered securities by fraudulent means. Santillo allegedly solicited clients…

Following the SEC charging five individuals with fraud related to a Ponzi scheme, Bank of America (“BOA”) has now been sued over its involvement with the First Nationle scheme. The class-action suit on behalf of multiple investors who lost money alleges that BOA provided more than 100 accounts for the…

On the heels of a Ponzi scheme that cheated investors out of $102 million, the SEC has charged a former insurance broker with defrauding inexperienced retail investors. James Hocker, aged 48, of Bellefonte, Pennsylvania has been charged with defrauding 25 investors of $1.27 million for non-existent securities. He operated his…

The SEC has shut down a $102 Million Ponzi Scheme that was defrauding investors in several states. The complaint that was filed in federal district court in Manhattan charges Perry Santillo from Rochester, New York, Christopher Parris from Rochester, New York, Paul LaRocco from Ocala, Florida, John Piccarreto from San…

On June 6, 2018, the Securities and Exchange Commission (the “SEC”) charged Essex Capital Corporation and its founder, Ralph Iannelli, with defrauding investors in connection with the sale of over $80 million in promissory notes. Silver Law Group is investigating potential claims against third parties for losses in Essex Capital…

Scott L. Silver, managing partner of the Silver Law Group, was interviewed by South Florida’s Local 10 ABC news station concerning the Woodbridge Group of Companies investment fraud. Scott Silver is one of the nation’s leading experts on Ponzi schemes and has represented victims in many of the country’s largest…

Silver Law Group is investigating former Overland, Kansas-based Ameriprise Financial Services, Inc. (CRD# 6363) broker John S. Elliot (CRD# 5981598) over allegations that he sold customers an outside investment. According to Elliot’s FINRA BrokerCheck, Ameriprise discharged Elliot in August 2016 for violating Ameriprise compliance policies relating to selling away. Following…

Silver Law Group is investigating former Houston, Texas-based Park Avenue Securities (CRD# 46173) broker Lizabeth Gotuaco Ty (CRD# 4737319) (also known as “Beth Ty”) after FINRA permanently barred her. According to Ty’s FINRA BrokerCheck report, FINRA permanently barred Ty in May 2016 after she failed to provide documents and information…