{"id":7229,"date":"2019-06-14T14:08:10","date_gmt":"2019-06-14T19:08:10","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7229"},"modified":"2022-05-17T14:05:15","modified_gmt":"2022-05-17T19:05:15","slug":"leon-vaccarelli-convicted-on-21-counts-involving-investor-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/leon-vaccarelli-convicted-on-21-counts-involving-investor-fraud\/","title":{"rendered":"Leon Vaccarelli Convicted on 21 Counts Involving Investor Fraud"},"content":{"rendered":"<p>\t\t\t\tA federal jury has found Leon Vaccarelli guilty of 21 counts of fraud and money laundering. Vaccarelli, a former registered The Investment Center broker, an ex-IC Advisory Services-associated investment adviser, and the owner of LWLVACC who conducted business through Lux Financial Services, is accused of defrauding investors, including elderly clients, of $1.5M.<\/p>\n<p>Vaccarelli gave investment advice and sold securities and investments to families in Connecticut. According to <a href=\"https:\/\/www.justice.gov\/usao-ct\/pr\/waterbury-man-guilty-fraud-and-money-laundering-offenses-related-15-million-fraud-scheme\" target=\"_blank\" rel=\"noopener noreferrer\">Justice.gov<\/a>, from about 2011 and 2017, the ex-former investment adviser and broker defrauded about 15 victims. He falsely represented that their money would be invested in IRA rollover accounts, certificates of deposit, money market accounts, and other investments that would earn interest.<\/p>\n<p>Instead, Vaccarelli put investors\u2019 money into his own business and personal accounts, commingling their funds with his, and used the money to help cover his own mortgage and other personal expenses, as well as certain business costs. Some customers&#8217; monies were used to pay \u201cinterest\u201d to other investors whom he was also defrauding.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/leon-vaccarelli-convicted-on-21-counts-involving-investor-fraud\/\"  title=\"Continue Reading Leon Vaccarelli Convicted on 21 Counts Involving Investor Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A federal jury has found Leon Vaccarelli guilty of 21 counts of fraud and money laundering. Vaccarelli, a former registered The Investment Center broker, an ex-IC Advisory Services-associated investment adviser, and the owner of LWLVACC who conducted business through Lux Financial Services, is accused of defrauding investors, including elderly clients, of $1.5M. Vaccarelli gave investment [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3783,3781,3760],"tags":[2883,3729],"class_list":["post-7229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-broker-misconduct","category-investment-advisers","category-sec-enforcement","tag-leon-vaccarelli","tag-the-investment-center"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Leon Vaccarelli Convicted on 21 Counts Involving Investor Fraud &#8212; Investor Lawyers Blog &#8212; June 14, 2019<\/title>\n<meta name=\"description\" content=\"Vaccarelli, a former registered The Investment Center broker, is accused of defrauding investors, including elderly clients, of $1.5M.\" \/>\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\/leon-vaccarelli-convicted-on-21-counts-involving-investor-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Leon Vaccarelli Convicted on 21 Counts Involving Investor Fraud &#8212; 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