Staten Island Man Charged in $9 million Investment Fraud

Posted on December 29th, 2014 at 10:47 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Nicholas Spinelli, a Staten Island businessman, was charged in an investment fraud with stealing more than $9 million from 300 investors.

Spinelli, along with four others, allegedly defrauded investors by "cold-calling" elderly people to solicit them to invest in public and non-public companies. They used a Staten Island-based company, Premier Links, Inc., as an unregistered broker dealer from 2006-2012.  Spinelli was president of Premier Links for two years from 2005-2007 and solicited investments on behalf of the company. During those two years, Spinelli became the cosigner on the main Premier Links accounts at JP Morgan Chase and Bank of America.

 In March of 2006, the Pennsylvania Securities Commission ordered Premier Links and Spinelli to cease selling unregistered securities in Pennsylvania.

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: Eccleston Law Offices, Nicholas Spinelli, JP Morgan Chase, Bank of America

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