Wheat Ridge, Colorado Man Pleads Guilty to Orchestrating a $4.8 Million Ponzi Scheme

Posted on January 20th, 2015 at 2:54 PM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Perry Sawano pled guilty to swindling investors in a $4.8 million Ponzi scheme between 2007 and 2013.

Sawano was accused of running the scheme from his Integrity Financial Consulting firm, previously known as Providence Financial Services, as a licensed investment adviser. Sawano directed investors’ money into alternative investments, but told investors that their money was placed in traditional instruments.

Those alternatives included businesses owned and operated by Sawano. But Sawano provided little, if any, disclosure and information describing risks, merits or terms and conditions of those investments.

In addition, an investor's money would sometimes be used to pay other investors or Sawano would deposit money in shell company bank accounts he owned or controlled.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Ponzi scheme, Perry Sawano, Integrity Financial Consulting, Providence Financial Services

Return to Archive

TESTIMONIALS

Previous
Next

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

April 19, 2024
WealthFeed Raises Funds for AI-Driven Lead Generation Tool

WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and job changes.

April 18, 2024
SEC Fines Target Off-Channel Communications

The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among investment advisory firms.

April 17, 2024
B. Riley Financial Again Delays Filing Audited Results

B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns raised by short sellers regarding its association with a former business partner.