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Investment Adviser Fraud

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NY Financial Advisor Accused Of Misappropriating More Than $1M From Client, Prospective Clients NY Financial Advisor Accused Of Misappropriating More Than $1M From Client, Prospective Clients
NY Financial Advisor Accused Of Misappropriating More Than $1M From Client, Prospective Clients A former registered investment adviser and founder of a New York financial advisory firm has been charged with fraud and money laundering. An indictment was unsealed on Monday, Dec. 6 in federal court in Central Islip charging Long Island resident Jeffrey Slothower, of Suffolk County, with wire fraud, investment adviser fraud, and money laundering in connection with a scheme to misappropriate more than $1 million from current and prospective clients. Slothower was arrested earlier in the day at his home in Southampton. “As alleged, Slothower executed a calculated scheme in which he repeate…

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by Joe Lombardi
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Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud
Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud The former co-founder of a multi-million dollar hedge fund is facing charges claiming that he lied to his investors and misappropriated nearly $20 million as part of a Ponzi scheme. Jason Rhodes of Fairfield County was arrested on Tuesday morning on conspiracy, securities fraud, wire fraud, and investment adviser fraud charges.  The charges stem from his participation in an elaborate scheme to defraud investors in the hedge fund and using investor funds to repay earlier investors in a Ponzi-like manner. Beginning in November 2013, Rhodes, a resident of the village of Rowayton in Norwalk, a…

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by Zak Failla