Philip Rossi – Tax Free Bond Scheme

ChapmanAlbin represented 11 Ohio individuals who were defrauded by their trusted, long-time financial advisor, Philip Rossi. Their advisor assured them he could safely invest their retirement savings in municipal bonds. Based on his assurances, the investors entrusted Rossi with their money. Rossi issued periodic statements to his customers, showing supposed increases in their government bond portfolios. In reality, he had misappropriated their money, and used part of it to make “dividend” payments to earlier investors, in typical “Ponzi” scheme fashion. ChapmanAlbin successfully settled investor claims for $373,319.20 against the broker-dealer that employed the financial advisor.

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