{"id":4330,"date":"2017-05-08T18:14:59","date_gmt":"2017-05-08T23:14:59","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4330"},"modified":"2017-05-08T18:14:59","modified_gmt":"2017-05-08T23:14:59","slug":"securities-cases-verto-capital-settles-fraud-charges-couple-file-broker-fraud-case-ny-life-securities-jcpenny-settle-lawsuit-97-m-cetera-admits-charging-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-verto-capital-settles-fraud-charges-couple-file-broker-fraud-case-ny-life-securities-jcpenny-settle-lawsuit-97-m-cetera-admits-charging-investors\/","title":{"rendered":"Securities Cases: Verto Capital Settles Life Settlement Charges, Couple File Broker Fraud Claim Against NY Life Securities, JCPenny to Settle Texas Class Action Lawsuit for $97.M, &#038; Cetera Admits to Charging Investors More For Mutual Funds"},"content":{"rendered":"<p>\t\t\t\t<strong>Financial Firm and Its CEO Settle Life Settlement Fraud Charges<\/strong><br \/>\nThe US Securities and Exchange Commission announced that Verto Capital Management and its CEO William Schantz III have settled civil charges accusing them of running a <a href=\"https:\/\/www.stockbroker-fraud.com\">Ponzi-like scam <\/a>involving life settlements. As part of the settlement, Verto Capital and Schantz will pay over $4M. <\/p>\n<p>According to the regulator\u2019s complaint, the two of them raised about $12.5M through promissory note sales that were supposed to pay for the firm\u2019s purchase and sale of life settlements. The notes were sold mostly through insurance brokers in Texas. <\/p>\n<p>Investors who were religious were the main target of the alleged fraud.They were allegedly told that that the securities were short-term investments that were at low risk of defaulting.  <\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-verto-capital-settles-fraud-charges-couple-file-broker-fraud-case-ny-life-securities-jcpenny-settle-lawsuit-97-m-cetera-admits-charging-investors\/#more-4330\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Firm and Its CEO Settle Life Settlement Fraud Charges The US Securities and Exchange Commission announced that Verto Capital Management and its CEO William Schantz III have settled civil charges accusing them of running a Ponzi-like scam involving life settlements. As part of the settlement, Verto Capital and Schantz will pay over $4M. According [&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":[3939,3799,3792,3986,3801,3760,3741,3750,3884],"tags":[],"class_list":["post-4330","post","type-post","status-publish","format-standard","hentry","category-life-settlements","category-mutual-funds","category-ponzi-scams","category-promissory-notes","category-sec","category-sec-enforcement","category-securities-fraud","category-texas-securities-fraud","category-variable-annuities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Cases: Verto Capital Settles Life Settlement Charges, Couple File Broker Fraud Claim Against NY Life Securities, JCPenny to Settle Texas Class Action Lawsuit for $97.M, &amp; Cetera Admits to Charging Investors More For Mutual Funds &#8212; Investor Lawyers Blog &#8212; May 8, 2017<\/title>\n<meta name=\"description\" content=\"Financial Firm and Its CEO Settle Life Settlement Fraud Charges The US Securities and Exchange Commission announced that Verto Capital Management and its &#8212; May 8, 2017\" \/>\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\/securities-cases-verto-capital-settles-fraud-charges-couple-file-broker-fraud-case-ny-life-securities-jcpenny-settle-lawsuit-97-m-cetera-admits-charging-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Cases: Verto Capital Settles Life Settlement Charges, Couple File Broker Fraud Claim Against NY Life Securities, JCPenny to Settle Texas Class Action Lawsuit for $97.M, &amp; Cetera Admits to Charging Investors More For Mutual Funds &#8212; Investor Lawyers Blog &#8212; 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