The Securities and Exchange Commission (SEC) earlier this week filed an emergency enforcement action in federal court seeking to shut down an alleged ongoing fraudulent scheme run by a handful of investment advisors, including Perry Santillo, Christopher Parris, Paul Anthony Larocco, John Piccarreto and Thomas Brenner.
The SEC alleges that these individuals were involved in an ongoing fraudulent scheme in which more than $102 million was raised from approximately 637 investors from around the nation since 2011.
The SEC specifically alleged in its Complaint that as part of the fraud, Defendants Santillo and Parris either bought or took over the books of businesses of retiring investment advisors from around the country. Then, in furtherance of the fraud, Santillo and Parris, or local sales people, including Defendants Piccarreto, LaRocco, and Brenner, allegedly persuaded these newly acquired clients —their victims — to withdraw their savings from traditional investments and invest in companies controlled by Santillo, Parris, or their associates, including Defendants First Nationle, Percipience, and United RL, the SEC claims.
If you invested in First Nationle, Percipience, and/or United RL with any of the named defendants, or their associates, as a result of a referral from your financial advisor, or as a result of his sale of his book of business, contact securities lawyer David Chase, a former SEC Prosecutor, for a confidential, no-cost consultation on your ability to recover your investment losses.
The law firm of David R. Chase has recovered millions of dollars for numerous defrauded investors in cases against securities brokerage firms for their employee stock broker’s wrongful and fraudulent conduct.
Stockbroker fraud lawyer David Chase is the principal of the SEC law firm, David R. Chase, PA, based in Fort Lauderdale, Florida. Stockbroker fraud lawyer David Chase represents defrauded stock market investors nationwide.