CLEVELAND and PHILADELPHIA, May 20, 2022 (GLOBE NEWSWIRE) -- The investment fraud lawyers at Rosca Scarlato LLC law firm are investigating potential claims for compensation on behalf of investors who lost money invested in the alleged Ponzi scheme perpetrated by StraightPath Venture Partners, StraightPath Management , and their principals Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D. Lachow, following securities fraud allegations filed by the Securities and Exchange Commission (“SEC”).
The SEC recently announced securities fraud and Ponzi payment claims against StraightPath and its principals, for allegedly defrauding over 2,200 investors across the country and the world of more than $410 million, in a massive Ponzi scheme perpetrated through a series of funds called SP Ventures, according to court records under review by investor rights attorney Alan Rosca. A review of the SEC’s allegations indicates substantial portions of investor money was misused and/or went missing.
StraightPath’s assets were ordered frozen by a federal judge. The Commission has also sought the appointment of a receiver to take over the alleged Ponzi scheme’s remaining assets. Court documents suggest that StraightPath used a network of promoters to solicit investments. Substantial amounts of investor money were allegedly used for Ponzi-like payments to existing investors or used to pay the perpetrators and promoters, according to Court records.
What StraightPath Investors May Do
Investment fraud attorneys Alan Rosca and Paul Scarlato have been investigating the StraightPath / SP Ventures Fund matter on behalf of victimized investors and have assembled a considerable volume of evidence. They are evaluating certain potential recovery options for investors StraightPath’s alleged scheme. Concerned investors may contact attorneys Alan Rosca or Paul Scarlato for a free, no-obligation evaluation of their options at 888-998-0530, arosca@rscounsel.law or by leaving a message at the StraightPath Investor Center Page.
The Rosca Scarlato investor lawyers have substantial experience representing investors who lost money as a result of investment fraud and Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs. There are no fees or costs if no recovery.
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