{"id":4791,"date":"2017-10-09T18:32:39","date_gmt":"2017-10-09T23:32:39","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4612"},"modified":"2022-03-22T15:07:26","modified_gmt":"2022-03-22T20:07:26","slug":"barred-broker-accused-bilking-retirees-investors-6m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/barred-broker-accused-bilking-retirees-investors-6m\/","title":{"rendered":"Barred Broker Accused of Bilking Retirees and Other Investors of $6M"},"content":{"rendered":"

\t\t\t\tLeonard Vincent Lombardo, a former broker once employed at Stratton Oakmont, is now charged by the US Securities and Exchange Commission, along with his company and business partner, with involvement in an alleged real estate investment scam that defrauded over 100 investors, including retirees, of $6M. Lombardo, his firm The Leonard Vincent Group (TLVG), and CFO Brian Hudlin have settled the SEC charges. <\/p>\n

According to the regulator\u2019s complaint, investors were told that their money would be placed in \u201cdistressed real estate\u201d and their money would grow by over 50 percent within months when, in fact, the investments did not make real earnings. <\/p>\n

For their investments, investors were given shares or units in an LVG fund. They were under the impression that the funds were to be pooled with other investors\u2019 money and then, according to the strategies in the LVG Funds\u2019 Private Placement Memoranda, collectively invested in the distressed real estate. <\/p>\n

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

Leonard Vincent Lombardo, a former broker once employed at Stratton Oakmont, is now charged by the US Securities and Exchange Commission, along with his company and business partner, with involvement in an alleged real estate investment scam that defrauded over 100 investors, including retirees, of $6M. Lombardo, his firm The Leonard Vincent Group (TLVG), and […]<\/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":[3801,3760,3803],"tags":[2909,2910],"class_list":["post-4791","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","category-senior-investors","tag-stratton-oakmont","tag-the-leonard-vincent-group"],"yoast_head":"\nBarred Broker Accused of Bilking Retirees and Other Investors of $6M — Investor Lawyers Blog — October 9, 2017<\/title>\n<meta name=\"description\" content=\"Leonard Vincent Lombardo, a former broker once employed at Stratton Oakmont, is now charged by the US Securities and Exchange Commission, along with his — October 9, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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