Dean Vagnozzi and John Pauciulo were genial partners in a growing financial business, for 16 years. Their relationship seemed to hold up even after the feds moved in.
No longer. Now they are adversaries, heading for court.
In happier times, Vagnozzi, a King of Prussia financial salesman well-known through his once-ubiquitous radio ads, raised more than $200 million from investors seeking alternatives to the stock market.
Pauciulo, a partner at a big law firm, packaged unconventional investments for Vagnozzi’s clients, reviewed his radio ads, attended his dinner sales pitches, and sat literally at his right hand to assure investors that it was all sound and legal. Vagnozzi says he paid Pauciulo more than $1 million in fees.
“We have been working together since 2004,” Vagnozzi said in one of the friendly videos the pair made for prospective customers. “I need a person like John,” he told viewers, to show “we are not a bunch of…