Home Scam/Fraud Kurta Law Investigates Ponzi Scheme Allegations on Behalf of Investors » Scammer...

Kurta Law Investigates Ponzi Scheme Allegations on Behalf of Investors » Scammer News

0

NEW YORK–()–National securities law firm Kurta Law is investigating claims that Oppenheimer & Co. Inc. (NYSE: OPY) failed to supervise their brokers, including John Woods, allowing them to perpetrate an alleged Ponzi scheme called Horizon Private Equity III. According to a complaint filed by the SEC, John Woods convinced elderly investors to pour money into a $110 million fraud from approximately 2008 to 2016.

John Woods allegedly operated the Ponzi scheme through his outside business, Southport Capital. The complaint alleges that Oppenheimer knew or should have known that John Woods operated this outside business. Consistent with industry regulations, this should have prompted a review of Woods’ activities, including his claims that Horizon Private Equity III was a low-risk investment and would generate high returns of 6% to 7%. John Woods and other Oppenheimer brokers claimed the money would go…

Click here for full article: [source_domain