An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Zamansky LLC Investigates Individual FINRA Claims for Oppenheimer Brokerage Customers Who Invested in the Alleged Horizon Private Equity III Ponzi Scheme
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Negative)
Tags
Rhea-AI Summary
Zamansky LLC is investigating Oppenheimer & Co. Inc. (OPY) on behalf of customers affected by the Horizon Private Equity III Ponzi scheme. The SEC had previously filed a complaint against the scheme, which raised $110 million from 400 investors, led by former Oppenheimer advisor John Wood. Allegations include failure to supervise and aiding in wrongful acts. Zamansky asserts that affected customers may have valid FINRA claims for their losses. The law firm invites Oppenheimer customers who invested in Horizon to discuss their legal rights.
Positive
Zamansky LLC is taking legal steps to assist affected Oppenheimer customers, potentially increasing recovery chances.
The investigation indicates that Oppenheimer may be held accountable for supervisory failures.
Negative
Oppenheimer could face significant legal challenges due to alleged supervisory failures in the Horizon scheme.
The investigation highlights potential liability issues for Oppenheimer, which may negatively impact its reputation.
NEW YORK--(BUSINESS WIRE)--
Zamansky LLC announces that it is investigating Oppenheimer & Co. Inc. (OPY) on behalf of brokerage customers who were investors in the alleged Horizon Private Equity III Ponzi scheme. The law firm is investigating individual FINRA claims for Oppenheimer customers to recover losses suffered as the result of a failure to supervise, aiding and abetting, “selling away” and other wrongful acts.
On August 25, 2012, the Securities and Exchange Commission filed a complaint against Horizon Private Equity III and its founder John Wood, previously a financial advisor employed by Oppenheimer, alleging that they engaged in a Ponzi scheme involving $110 million raised from 400 investors. The SEC alleged that John Wood orchestrated a fraud by raising money from mostly elderly retirees, claiming that they would receive a fixed rate of return and return of principal. Unfortunately, the SEC alleges that Horizon never made a legitimate investment and that the money raised was used to pay earlier investors, until the fund ran out of money.
According to Jake Zamansky, investment fraud attorney, Oppenheimer brokerage customers may have individual FINRA claims for losses suffered in the Horizon Ponzi scheme. As a broker-dealer, Oppenheimer was responsible for supervising John Wood while he previously worked there to prevent his “selling away” of unauthorized investments. Oppenheimer brokerage customers may have claims for failure to supervise, aiding and abetting, “selling away” and other wrongful conduct, Zamansky states.
If you were an Oppenheimer brokerage customer who invested in the Horizon Private Equity III Fund, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email jake@zamansky.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
What is the investigation involving Oppenheimer & Co. (OPY) about?
The investigation is about Oppenheimer's potential failures in supervising John Wood, a former advisor involved in the Horizon Private Equity III Ponzi scheme.
What losses are Oppenheimer customers claiming from the Horizon scheme?
Customers are claiming losses due to alleged failure to supervise and wrongful acts related to the Ponzi scheme, which raised $110 million.
What dates are relevant to the Horizon Private Equity III Ponzi scheme?
The SEC filed a complaint against the scheme on August 25, 2012.
How can affected Oppenheimer customers seek legal help?
Affected customers can contact Zamansky LLC via email or phone to discuss their legal rights regarding their investments.
What are the allegations against John Wood related to the Ponzi scheme?
John Wood is accused of orchestrating a Ponzi scheme and misleading investors, mainly elderly retirees, into investing without legitimate returns.
