{"id":1295,"date":"2013-08-10T12:25:10","date_gmt":"2013-08-10T12:25:10","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/08\/investors_claim_they_lost_300m"},"modified":"2022-03-10T16:38:09","modified_gmt":"2022-03-10T22:38:09","slug":"investors-claim-they-lost-300m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investors-claim-they-lost-300m\/","title":{"rendered":"Investors Claim They Lost $300M in Ohio Ponzi Fraud Lawsuit"},"content":{"rendered":"

\t\t\t\tIn Ohio, investors are suing Glen Galemmo for allegedly running a Ponzi scam<\/a>. The securities fraud lawsuit<\/a> claims that approximately 100 to 200 investors lost more than $300 million. Galemmo is now named in two complaints related to these claims. His wife, Kristine Galemmo, is also being sued, as are his business partner Edward Blackledge and numerous investment funds, LLC, and companies. Plaintiffs are grouped as the Galemmo Victims Fund I and II.<\/p>\n

The Cincinnati money manager ran Galemmo Investment Group, Queen City Investment Fund, and other entities for over a year. However, last month, he sent out a mass email to investors explaining that Queen City Investments, which he owns, was stopping operations. He told them not to come to the building because they would not be let in and that his lawyer had told him to avoid contact with them. He said that their inquiries should go through the IRS.<\/p>\n

According to the complaint, Galemmo claimed to have over $20 million in assets under management. When the S & P 500 was declining between ’06 and ’11 he purportedly said that he’d made earning returns of 432% by investing in individual stock. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In Ohio, investors are suing Glen Galemmo for allegedly running a Ponzi scam. The securities fraud lawsuit claims that approximately 100 to 200 investors lost more than $300 million. Galemmo is now named in two complaints related to these claims. His wife, Kristine Galemmo, is also being sued, as are his business partner Edward Blackledge […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792],"tags":[],"class_list":["post-1295","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams"],"yoast_head":"\nInvestors Claim They Lost $300M in Ohio Ponzi Fraud Lawsuit — Investor Lawyers Blog — August 10, 2013<\/title>\n<meta name=\"description\" content=\"In Ohio, investors are suing Glen Galemmo for allegedly running a Ponzi scam. 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