N.Y.-Based Fund And Three Employees Accused of Defrauding Investors

Posted on February 9th, 2015 at 9:17 AM
N.Y.-Based Fund And Three Employees Accused of Defrauding Investors

From the Desk of Jim Eccleston at Eccleston Law Offices:

According the SEC, VERO Capital Management and its president Robert Geiger, general counsel George Barbaresi, and chief financial officer Steven Downey operated a pair of funds represented to have a goal of investing primarily in mortgage-backed securities. 

However, the fund liquidated investor money. Therefore, the three officers diverted $4.4 million to make “bridge loans” to an affiliated company allegedly in the risk management business. The SEC accuses the defendants of  failing to disclose to investors that they were making those loans and, as a result, that the loans were not authorized. 

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 65 years in delivering the highest quality legal services.

 

Related Attorneys: James J. Eccleston

Tags: SEC, liquidated money, VERO Capital Management

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