South Florida Arbitration & Litigation Lawyer Blog
South Florida Precious Metals Fraud, Misrepresentation and Breach of Fiduciary Duty Litigation and Arbitration Attorney:
The Manhattan District Attorney’s Office recently announced that three Florida men who operated an investment scheme through a precious metals company have been indicted in New York City on charges they defrauded scores of investors out of millions of dollars.
Manhattan District Attorney Cyrus Vance said Tuesday Sean Robert Stropp, Karl Spicer, Ricardo Garcia and PMCO Services Inc. were charged with grand larceny and violation of the Martin Act among other charges.
He says the three men pretended to work on Wall Street, in all obtaining about $8 million from 150 investors to buy metals like silver bullion and steering them to risky transactions.
Garcia pleaded not guilty and was held on $150,000 bond; the corporation defendant also pleaded not guilty. Stropp and Spicer have not been arraigned.
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At the Fort Lauderdale Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.