Articles Tagged with Ponzi scheme

Peter FentonPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 18, 2016 indicate that Massachusetts-based Detwiler Fenton & Company broker Peter Fenton is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Fenton (CRD# 2334505).

Peter Fenton has spent 23 years in the securities industry and has been registered with Detwiler Fenton & Company in Boston, Massachusetts since 1993. He was previously registered with Detwiler Fenton Wealth Management in Boston, Massachusetts (2011-2015). He is a registered broker in Massachusetts. Continue Reading

Jay PeakAccording to a release published in April 2016, the Securities and Exchange Commission (SEC) has announced fraud charges and an asset freeze against a Vermont-based ski resort and associated businesses. According to the SEC, the businesses allegedly misused “millions of dollars raised through investments solicited under the EB-5 Immigrant Investor Program.”

The SEC named two businessmen, Ariel Quiros and William Stenger, who allegedly made false statements and omitted “key information” when they raised more than $350,000,000 to construct a ski resort and a biomedical research facility in Vermont. Investors were allegedly “told they were investing in one of several projects connected to Jay Peak Inc., a ski resort operated by Quiros and Stenger, and their money would only be used to finance that specific project.” According to the SEC, the funds were in fact used to “fund deficits in earlier projects,” in a scheme resembling a Ponzi scheme. Continue Reading

Deepal Wannakuwatte

According to the Federal Bureau of Investigation (FBI), Sacramento-based businessman Deepal Wannakuwatte has been ordered to pay millions of dollars in restitution following allegations that he operated a Ponzi scheme.

According to the FBI, Wannakuwatte “fooled his investors and his lenders” and “fraudulently obtained in excess of $230 million from more than 150 victims, including individuals, businesses, government agencies, and financial institutions,” which he used to finance separate business ventures, “line his own pockets,” and operate the investment fund as a Ponzi scheme. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Wannakuwatte. Continue Reading

Derek WeaverAccording to the Financial Industry Regulatory Authority (FINRA), former Alabama-based Pruco Securities broker Derek Weaver has been permanently barred from acting as a brother or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Weaver (CRD# 2298887).

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shutterstock_140770462According to the Financial Industry Regulatory Authority (FINRA), former New York-based Securities America broker Christopher Orlando is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Orlando (CRD# 2927859).

Christopher Orlando has spent 13 years in the securities industry and was most recently registered with Securities America in New York, New York (2012-2013). Previous registrations include Innovation Partners in Needham, Massachusetts (2012); Grant Williams in Austin, Texas (2010-2012); Longview Financial Group in Costa Mesa, California (2009-2010); Ascher/Decision Services in San Marino, California (2008-2009); Planmember Securities Corporation in Marina Del Rey, California (2006-2008); Partnervest Securities in Santa Monica, California (2002-2006); Jackson National Life Insurance Distributors in Denver, Colorado (2002); Directed Services in Windsor, California (1999-2001); ING Funds Distributor in Wilmington, Delaware (2000); and PLANCO Financial Services in Simsbury, Connecticut (1997-1998). He is currently not registered with any firm or state. Continue Reading

Peter FentonThe securities and investment fraud law firm, Fitapelli Kurta, is interested in hearing from investors who have complaints regarding Boston and Tennessee-based Detwiler Fenton & Company broker Peter Fenton (CRD# 2334505).

Peter Fenton has spent twenty-two years in the securities industry and has been registered with Detwiler Fenton & Company in Boston, Massachusetts and Franklin, Tennessee since 1993. He was previously registered with Detwiler Fenton Wealth Management in Boston, Massachusetts (2011-2015). He is a registered broker in Massachusetts. Continue Reading