Investigation into Alleged Securities Violations and Fraud
Investigation into Alleged Securities Violations and Fraud
National plaintiffs' law firm Berger Montague PC is currently conducting a detailed investigation into serious allegations of securities violations, breaches of fiduciary duty, and more. The focus is on individuals and entities including Ryan Wear, Water Station Management LLC, Creative Technologies, Inc., and Jordan Chirico, all linked to an alleged Ponzi scheme. Reports indicate that these parties may have unlawfully raised over $275 million from unsuspecting investors.
Understanding the Allegations
The SEC has taken significant action, having filed a lawsuit against Wear, Water Station, and Creative in connection with this case. The lawsuit was initiated in the U.S. District Court for an undisclosed location, citing violations of federal securities laws related directly to a Ponzi scheme operated by Wear. Investors, totaling more than 250, have been reportedly affected by these actions. This shows the extensive reach and significant impact of the alleged fraud.
Fiduciary Duty Breach
In a separate but related matter, the SEC has also taken action against Chirico for breaching fiduciary duties owed to an institutional client. Such breaches undermine the trust and responsibility that financial advisors have in managing their clients' funds, emphasizing the seriousness of the violations in question.
Criminal Charges Filed
While the SEC focuses on civil charges, criminal charges have also been filed. The U.S. Attorney's Office has brought forth criminal charges against both Wear and Chirico in relation to the alleged Ponzi scheme, marking a pivotal moment in the ongoing investigation. The implications of these charges could lead to significant consequences depending on the outcomes.
About Berger Montague PC
Berger Montague, with a history spanning decades, has been a pioneer in advocating for aggrieved investors. Having been established since 1970, this law firm has represented both individual and institutional investors across a wide spectrum of cases pertaining to securities fraud and Ponzi scheme litigation. With locations in several major cities, Berger Montague's commitment to uphold the rights of investors remains steadfast.
Company's Commitment to Investors
The firm encourages anyone who purchased investment contracts or notes from Wear, Water Station, Creative, or Chirico, or who invested with them in any capacity, to reach out. Questions about rights and potential claims are vital, and obtaining legal advice could help protect individual interests.
Contact Information for Inquiry
For further information or to express any concerns regarding your rights, interested parties can reach out to Berger Montague's representatives. Andrew Abramowitz, Senior Counsel at Berger Montague, can be contacted at (215) 875-3015, or you may reach Caitlin Adorni at (267) 764-4865. They are prepared to discuss any inquiries regarding this serious matter.
Frequently Asked Questions
What is the nature of the allegations against Ryan Wear?
Ryan Wear is alleged to be linked to a Ponzi scheme that raised over $275 million from investors while violating securities laws.
What actions have been taken by the SEC?
The SEC filed a lawsuit against Wear, Water Station, and Creative, citing numerous securities law violations tied to the alleged Ponzi scheme.
How many investors have been affected by this scheme?
According to reports, over 250 investors have reportedly been impacted by the actions of those involved in the alleged Ponzi scheme.
Are there any criminal charges involved?
Yes, the U.S. Attorney's Office has announced criminal charges against Wear and Chirico linked to the Ponzi scheme.
Where can I find more information or seek help?
Individuals can contact Berger Montague directly to discuss their concerns or seek guidance on legal rights related to their investments.
About The Author
Contact Ryan Hughes privately here. Or send an email with ATTN: Ryan Hughes as the subject to contact@investorshangout.com.
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