{"id":6936,"date":"2019-04-18T07:31:35","date_gmt":"2019-04-18T12:31:35","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6936"},"modified":"2019-04-18T07:31:35","modified_gmt":"2019-04-18T12:31:35","slug":"investment-adviser-is-accused","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/","title":{"rendered":"Investment Adviser is Accused of Defrauding More than $570K"},"content":{"rendered":"<p>\t\t\t\tGonzalo Ortiz, an <a href=\"https:\/\/www.investorlawyers.com\/?s=investment+adviser+fraud\" target=\"_blank\" rel=\"noopener noreferrer\">investment adviser<\/a>, is facing charges accusing him of defrauding one investor of more than $570K. According to the <a href=\"https:\/\/www.sec.gov\/litigation\/litreleases\/2019\/lr24447.htm\" target=\"_blank\" rel=\"noopener noreferrer\">Securities and Exchange Commission (SEC)<\/a>, Ortiz appropriated about $224,500 of his client\u2019s funds and lost about $290K through trades that he made.<\/p>\n<p>In its complaint, the SEC said from 2015 to 2017, Ortiz persuaded an acquaintance to give him control of nearly $570K, much of which were retirement funds. The investment adviser allegedly did this by promising the investor a 50% yearly return and while falsely touting a successful track record in investing.<\/p>\n<p>At first, said the Commission, the investor gave Ortiz $200K to invest. Although the investment adviser was not authorized to use the money for his own use, he allegedly spent about $56K on cars and other goods while losing the remainder of the funds through trading. Ortiz then gave the investor a bogus account statement showing an over 50% return on the investment, compelling his client to give him another $200K to invest.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/\"  title=\"Continue Reading Investment Adviser is Accused of Defrauding More than $570K\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gonzalo Ortiz, an investment adviser, is facing charges accusing him of defrauding one investor of more than $570K. According to the Securities and Exchange Commission (SEC), Ortiz appropriated about $224,500 of his client\u2019s funds and lost about $290K through trades that he made. In its complaint, the SEC said from 2015 to 2017, Ortiz persuaded [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1],"tags":[3371],"class_list":["post-6936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-gonzalo-ortiz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment Adviser Accused of Defrauding More than $570K &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Gonzalo Ortiz, an investment adviser who is also facing criminal charges, has been accused by the SEC of defrauding one investor more than $570K.\" \/>\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\/investment-adviser-is-accused\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investment Adviser Accused of Defrauding More than $570K &#8212; 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Investor Lawyers Blog","twitter_description":"Gonzalo Ortiz, an investment adviser who is also facing criminal charges, has been accused by the SEC of defrauding one investor more than $570K.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/12\/12.13.18.jpeg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Investment Adviser is Accused of Defrauding More than $570K","datePublished":"2019-04-18T12:31:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/"},"wordCount":509,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/12\/12.13.18.jpeg","keywords":["Gonzalo Ortiz"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/","url":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused\/","name":"Investment Adviser Accused of Defrauding More than $570K &#8212; 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