{"id":7252,"date":"2019-07-05T09:36:44","date_gmt":"2019-07-05T14:36:44","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7252"},"modified":"2019-07-05T09:36:44","modified_gmt":"2019-07-05T14:36:44","slug":"former-ny-trader-accused-of-19-3m-ponzi-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/","title":{"rendered":"Former NY Trader Accused of $19.3M Ponzi Fraud"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission (SEC) <\/a>is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam. At least five investors were allegedly collectively bilked of $19.3M. Rinfret, who is a former New York trader, is now also facing parallel criminal charges.<\/p>\n

The SEC, in its complaint<\/a>, contends that Rinfret told investors they were backing an already successful trading strategy using a proprietary algorithm that had rendered returns in the triple digits\u2014360% in a multiyear period, supposedly\u2014when, in reality, money was being lost on a consistent basis. Meantime, Rinfret allegedly used investors\u2019 money to fund his extravagant lifestyle.<\/p>\n

The investors are five individuals who thought they were buying limited partnership interests in Plandome Partners, LP, which Rinfret claimed was an investment fund that he and Plandome Partners LLC ran. These investors thought their funds would be traded in S & P futures contracts and foreign currency.<\/p>\n

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

The US Securities and Exchange Commission (SEC) is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam. At least five investors were allegedly collectively bilked of $19.3M. Rinfret, who is a former New York trader, is now also facing parallel criminal charges. The SEC, in its […]<\/p>\n","protected":false},"author":2,"featured_media":6882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3792,3795,3761],"tags":[4072,4073],"class_list":["post-7252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-ponzi-scams","category-sec-settlements","category-securities-and-exchange-commis","tag-paul-andrews-rinfret","tag-plandome"],"yoast_head":"\nFormer NY Trader Accused of $19.3M Ponzi Fraud — Investor Lawyers Blog — July 5, 2019<\/title>\n<meta name=\"description\" content=\"The SEC is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam.\" \/>\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\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Former NY Trader Accused of $19.3M Ponzi Fraud — Investor Lawyers Blog — July 5, 2019\" \/>\n<meta name=\"twitter:description\" content=\"The SEC is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & 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":"Former NY Trader Accused of $19.3M Ponzi Fraud — Investor Lawyers Blog — July 5, 2019","description":"The SEC is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/","twitter_card":"summary_large_image","twitter_title":"Former NY Trader Accused of $19.3M Ponzi Fraud — Investor Lawyers Blog — July 5, 2019","twitter_description":"The SEC is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/","url":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/","name":"Former NY Trader Accused of $19.3M Ponzi Fraud — Investor Lawyers Blog — July 5, 2019","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg","datePublished":"2019-07-05T14:36:44+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The SEC is accusing Paul Andrews Rinfret, Plandome LLC, and Plandome Partners LP of defrauding investors in a securities offering scam.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg","width":1024,"height":440,"caption":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/former-ny-trader-accused-of-19-3m-ponzi-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Former NY Trader Accused of $19.3M Ponzi Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/03\/SEC.jpg","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1SY","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/7252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=7252"}],"version-history":[{"count":0,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/7252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media\/6882"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=7252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=7252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=7252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}