John S. Chapman & Associates LLC
Hoyt Block, Ste. 204
700 West St. Clair Ave.
Cleveland, Ohio 44113
Phone: 216-241-8172
866-220-3300
Fax: 216-241-8175
Email: Contact us
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Alleged Ponzi Scheme Mastermind Philip Rossi Arrested
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Alleged Ponzi scheme mastermind Philip Rossi was arrested yesterday for failing to comply with his bail terms. Rossi disobeyed a court order not to contact his former investors. He will will be in jail until his April trial. Rossi, a Cleveland, Ohio former stockbroker and accountant, is accused of organizing an investment fraud scheme that victimized about 40 investors.
The securities litigation law firm of Chapman & Associates, LLC has been investigating Rossi's case on behalf of victimized investors. The law firm established that Rossi promised above-market returns to his victims, and assured them their funds were safely invested. However, when investors attempted to withdraw funds last year, they found out to their dismay that Rossi would not pay them back. Rossi made one excuse after another and gave assurances that the funds would be forthcoming, yet his assurances never materialized.
Chapman & Associates is taking legal action against Rossi's former employer, on behalf of clients who invested with Rossi. The clients are alleging that Rossi's former employer, a financial organization, failed to properly supervise him and prevent him from defrauding the investing public. If you or a family member has been victimized in Philip Rossi's fraud, please contact us toll free at 866-220-3300 or by email at jchapman@jscltd.com. |
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