{"id":1775,"date":"2016-01-15T20:14:37","date_gmt":"2016-01-15T20:14:37","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2016\/01\/ecurities_headlines_ohio_finan"},"modified":"2022-03-22T14:29:20","modified_gmt":"2022-03-22T19:29:20","slug":"ecurities-headlines-ohio-finan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ecurities-headlines-ohio-finan\/","title":{"rendered":"Securities Headlines:  Ohio Financial Adviser Faces Criminal Charges, Petters Ponzi Scam Investors Still Waiting for Their Money, and FINRA Recommends Disciplinary Action Against Ex-Jefferies Bond Trader"},"content":{"rendered":"<p>\t\t\t\t<strong>Ohio Financial Adviser is Indicted in $15M Securities Fraud <\/strong><br \/>\nEvolution Partners Wealth Management owner Larry Werbel has been indicted on criminal charges accusing him of involvement in a <a href=\"https:\/\/www.stockbroker-fraud.com\">securities scam<\/a> to bilk at least 100 investor of over $15M. Werbel recruited investors for shares of VgTel Inc. He and other brokers purportedly promised high dividends even though the shares were sold and purchased by companies belonging to the alleged scammers so that they could artificially inflate the share price.<\/p>\n<p>According to prosecutors, over $9M of investor funds were pockets by the fraudsters. Werbel, who prosecutors say got investors to purchase $3M in VgTel shares, received over $300K in kickbacks.<\/p>\n<p>He is charged with securities fraud, conspiracy to commit securities fraud and wire fraud, investment adviser fraud, wire fraud, and making false statements to federal officers. Werbel claims he is innocent. <\/p>\n<p>Meantime, the man accused of masterminding the securities scam, Edward Durante, was arrested in Germany and brought back to the US last month. He previously was convicted of securities fraud in 2011. The U.S. Securities and Exchange Commission has filed a civil case against Evolution Partners, Durante, and others.<br \/>\n <a href=\"https:\/\/www.investorlawyers.com\/blog\/ecurities-headlines-ohio-finan\/#more-1775\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ohio Financial Adviser is Indicted in $15M Securities Fraud Evolution Partners Wealth Management owner Larry Werbel has been indicted on criminal charges accusing him of involvement in a securities scam to bilk at least 100 investor of over $15M. Werbel recruited investors for shares of VgTel Inc. He and other brokers purportedly promised high dividends [&hellip;]<\/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":[3825,4040,3792,3741],"tags":[],"class_list":["post-1775","post","type-post","status-publish","format-standard","hentry","category-financial-advisers","category-jefferies-group","category-ponzi-scams","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Headlines: Ohio Financial Adviser Faces Criminal Charges, Petters Ponzi Scam Investors Still Waiting for Their Money, and FINRA Recommends Disciplinary Action Against Ex-Jefferies Bond Trader &#8212; Investor Lawyers Blog &#8212; January 15, 2016<\/title>\n<meta name=\"description\" content=\"Ohio Financial Adviser is Indicted in $15M Securities Fraud Evolution Partners Wealth Management owner Larry Werbel has been indicted on criminal charges &#8212; January 15, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ecurities-headlines-ohio-finan\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Headlines: Ohio Financial Adviser Faces Criminal Charges, Petters Ponzi Scam Investors Still Waiting for Their Money, and FINRA Recommends Disciplinary Action Against Ex-Jefferies Bond Trader &#8212; Investor Lawyers Blog &#8212; January 15, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Ohio Financial Adviser is Indicted in $15M Securities Fraud Evolution Partners Wealth Management owner Larry Werbel has been indicted on criminal charges &#8212; January 15, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Headlines: Ohio Financial Adviser Faces Criminal Charges, Petters Ponzi Scam Investors Still Waiting for Their Money, and FINRA Recommends Disciplinary Action Against Ex-Jefferies Bond Trader &#8212; 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