Financial Advisor to Stars Pleads Guilty to Perpetrating Multiple Ponzi Schemes

Posted on May 22nd, 2015 at 11:29 AM
Financial Advisor to Stars Pleads Guilty to Perpetrating Multiple Ponzi Schemes

From the Desk of Jim Eccleston at Eccleston Law LLC:

Troy Stratos, a self-described entertainment entrepreneur and globe-trotting businessman, pleaded guilty in California to four counts of wire fraud and two counts of money laundering. The most remarkable of the schemes related to $11.3 million that he took from an East Coast financial advisor to buy pre-initial public offering Facebook stock.

Stratos told the advisor that he represented Carlos Slim, one of the world’s richest men, and that because he was buying a large block of Facebook stock for Slim, he would have excess stock that could be sold at favorable prices. The advisor then sent three wire transfers for a total of $11.25 million to buy the shares.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Troy Stratos, Celebrities, Carlos Slim, Fraud, Ponzi Scheme, James Eccleston, Eccleston Law

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