Massachusetts Broker Gregg Thomas Rennie Sued for Investment Fraud
Gregg Thomas Rennie of Quincy, Massachusetts was accused by the Securities and Exchange Commission of defrauding New Hampshire and Massachusetts investors out of at least $2 million since 2007.
The securities law firm of John S. Chapman & Associates, LLC, has been investigating Rennie’s “federal housing certificates” and established that Rennie appears to have devised and perpetrated much of the fraud while affiliated with a Providence financial services agency.Rennie offered the “federal housing certificates,” which were unregistered securities, to unsuspecting investors with the promise of 12% annual returns, risk free.Instead of investing the funds, Rennie seems to have used his ill-gotten gains to pay for personal expenses.
“Rennie appears to have been perpetrating a typical Ponzi scheme, using funds from later investors to pay earlier investors. It is our firm’s priority to provide restitution to those investors victimized by Rennie,” said John S. Chapman.
John S. Chapman & Associates is continuing to investigate Gregg Thomas Rennie’s fraudulent activities and is preparing to take action on behalf of victimized investors.If you have lost money in Rennie’s alleged fraud, contact us immediately by email at jchapman@jscltd.com, or phone at 866-220-3300.