May 1, 2020 Comments Off on Lee D. Weiss Financial Advisor Fraud Investigation Blog, Current Investigations

Lee D. Weiss Financial Advisor Fraud Investigation

Lee D. Weiss Financial Advisor Fraud Investigation, featured by Top Securities Fraud Attorneys, The White Law Group

Lee D. Weiss Reportedly Charged With Orchestrating Ponzi Scheme

Financial Advisor Charged With Orchestrating Ponzi Scheme, Defrauding Clients of More than $10 Million

According to a press announcement yesterday, U.S. Attorney William M. McSwain announced that Lee D. Weiss, 51, of Newton, Massachusetts, was reportedly charged with six counts of wire fraud and two counts of mail fraud.  The charges are in connection with Weiss’s alleged multi-year investment scam that reportedly targeted his own clients and caused investor losses of more than $10 million.

Weiss, an investment advisor and the principal of Family Endowment Partners, LP, purportedly defrauded his own clients of millions of dollars through investments in a now defunct Florida tobacco company and a series of private securities offerings.  According to reports, Weiss allegedly told his clients he was investing their money but instead he was using it to make Ponzi payments and to pay for his own personal expenses.  He allegedly defrauded his investors of millions of dollars.

Weiss reportedly lied to his clients, to prevent them from learning about his alleged scheme, and to convince them to continue paying him fees for “managing” their money.  He purportedly told them  that they were making money when in fact,  their funds had already been stolen.

If convicted, Weiss reportedly faces a maximum possible sentence of 160 years’ imprisonment, a $2 million fine, 3 years’ supervised release, an $800 special assessment, mandatory restitution, and forfeiture.

Recovery of Investment Losses 

The White Law Group is investigating potential securities fraud claims involving Lee. D. Weiss and the liability his employers may have for failure to properly supervise him.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

If you have suffered losses investing with Lee D. Weiss, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.

 

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