Have you suffered losses inWaste2Energy Holdings? If so, the securities attorneys of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim.
Waste2Energy, which purported to possess technology for converting waste into clean energy, filed for bankruptcy in 2011.
According to a recent SEC news release, Gregg Lorenzo, founder of Charles Vista brokerage firm, has been accused by the SEC of making false and misleading statement to solicit investors into risky investments with Waste2Energy Holdings. The SEC news release further states that Lorenzo led investors to believe that Waste 2Energygy was a “risk-free” investment opportunity that would provide lucrative returns, when in fact it was a speculative debt security offering.
According to the SEC’s order, Charles Vista was the exclusive placement agent for the issuance of these Waste2Energy securities, and the firm’s financial interest in the offering was considerable. Documents attached to some of Waste2Energy’s SEC filings indicate that Charles Vista had arranged to receive a 10 percent “commission” on the gross proceeds of all debentures sales, a consulting fee of $10,000 per month for 12 months, and various other commissions and fees.
When brokers make fraudulent statements and deliberately mislead investors, both the broker and the brokerage firm may be liable for investment losses.
If you suffered losses investing in Waste2Energy and would like to discuss your litigation options, please contact the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago Illinois and Boca Raton, Florida.
For more information on The White Law Group and the firm’s securities fraud practice visit http://www.whitesecuritieslaw.