ATTENTION SOUTHPORT CAPITAL AND OPPENHEIMER CUSTOMERS WHO INVESTED IN HORIZON PRIVATE EQUITY III: KlaymanToskes Continues Investigation Into Potential Claims on Behalf of Southport Capital and Oppenheimer Customers Over Ponzi Scheme Investment Losses

Rhea-AI Summary

National investor fraud law firm KlaymanToskes is investigating potential securities claims for former and current Oppenheimer customers related to a $100 million Ponzi scheme orchestrated by ex-Oppenheimer advisor John Woods through Southport Capital. From 2008 to 2016, Woods allegedly solicited Oppenheimer clients to invest in Horizon Private Equity III, misleading them with false promises of safety and returns. Oppenheimer’s supervision over its advisors is under scrutiny, raising concerns for investors potentially impacted by this significant misconduct.

Positive

• KlaymanToskes is actively seeking to recover funds for affected investors.
• The law firm has successfully recovered over $220 million for investors in FINRA arbitrations.

Negative

• Oppenheimer possibly failed in its duty to supervise registered advisors, leading to investor losses.
• Investors may have lost substantial amounts due to Woods' fraudulent activities.

GREENSBORO, N.C.--(BUSINESS WIRE)-- National investor fraud law firm, KlaymanToskes (“KT”), continues its investigation into potential securities claims on behalf of former and current Oppenheimer & Co., Inc. (“Oppenheimer”) (NYSE: OPY) and Southport Capital customers who invested in Horizon Private Equity III (“Horizon”) through John Woods, a former Oppenheimer financial advisor.

Oppenheimer customers recently learned about the massive, $100 million Ponzi scheme devised by former Oppenheimer registered representative, John Woods, through his advisory firm, Southport Capital. From 2008 to 2016, John Woods and his brother Jim allegedly solicited a significant number of Oppenheimer’s customers to invest in Horizon while the Woods were registered as a brokers and investment advisers with the brokerage firm. On August 25^th, the SEC's Atlanta Regional Office Director stated, "As alleged in the complaint, Woods and Southport preyed upon their clients' fears of losing their hard-earned savings and convinced them to place millions of dollars into a Ponzi scheme by falsely promising them a safe investment with steady returns."

According to securities attorney Lawrence L. Klayman, Esq., “For years, Oppenheimer ignored red flag after red flag showing John Woods’ financial misconduct through Horizon and Southport Capital, and Woods’s activities are actionable in a securities claim in order to make a recovery.”

The sole purpose of this release is to investigate potential claims relating to Oppenheimer’s supervision of the Woods and the Horizon Ponzi scheme. Oppenheimer is responsible for the supervision of all of registered advisors’ activities, including “selling away” private securities transactions. Current and former Southport Capital and Oppenheimer customers who invested in Horizon and who have information related to the handling of their investments, are encouraged to contact securities attorney Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Report.

About KlaymanToskes

KT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $220 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.

Destination: https://klaymantoskes.com/horizon-oppenheimer-ponzi-scheme-investigation/

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005424/en/

KlaymanToskes

Lawrence L. Klayman, Esq.

(561) 542-5131

lklayman@klaymantoskes.com

www.klaymantoskes.com

Source: KlaymanToskes

FAQ

What is the Ponzi scheme related to Oppenheimer's customers?

The Ponzi scheme involves John Woods, a former Oppenheimer advisor, who misled clients into investing in Horizon Private Equity III.

How much money is associated with the Ponzi scheme involving Oppenheimer?

The Ponzi scheme is reported to involve approximately $100 million.

What is KlaymanToskes investigating regarding Oppenheimer?

KlaymanToskes is investigating potential securities claims due to Oppenheimer's alleged failure to supervise John Woods and his fraudulent actions.

What time period did John Woods solicit Oppenheimer customers for investments?

John Woods solicited investments from Oppenheimer customers from 2008 to 2016.

How can affected Oppenheimer customers seek help?

Affected customers can contact KlaymanToskes for assistance in recovering their investments.