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

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  Chapman & Associates Retained by Philip Rossi Investors, Preparing to File Suit
  To his clients, Philip Rossi had always seemed to be a hard working and dependable tax adviser as well as a savvy stockbroker.  Lately, it is dawning on many of Rossi's clients that they were actually victims, not clients of the Willoughby-based financial adviser. 

To one Geauga County couple, David and Jane Johnson*, it now appears that Rossi was only was only a master of deception, not a master of the stock market.  The Johnsons entrusted their retirement nest egg to Rossi in 2003.  Every month afterwards, they received a statement from Rossi's office which showed that their retirement savings were steadily growing.  Eventually the statements stopped coming and then Rossi disappeared.  "He just took off on us," commented Mr. Johnson, "and I guess he took all our money with him."

Rossi was indicted by a federal grand jury for mail fraud on November 22nd, 2008.  Acording to the Johnsons' lawyer, "Rossi was operating a Ponzi scheme."  The Johnsons are represented by Cleveland-based law firm John S. Chapman & Associates, LLC, which has a nationwide practice representing victims of Ponzi schemes and other investment frauds.

"In the final analysis, every Ponzi scheme is the same: it's always just robbing Peter to pay Paul," commented John Chapman, the firm's principal.  Chapman's firm is preparing to sue Rossi's stock brokerage firm, which was obliged to supervise Rossi's business activities.  According to Chapman, "Rossi's supervisors were just asleep at the wheel and it's time for them to be held liable."



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* not the real names; the couple has asked that their real names be withheld.