Leon Vaccarelli, formerly with the Investment Center, Pleads Not Guilty
Have you lost money with financial advisor Leon W. Vaccarelli of Waterbury, Connecticut? We are continuing our investigation into allegations made against Leon Vaccarrelli, formerly a financial advisor with the Investment Center. Vaccarrelli recently pleaded not guilty to charges of fraud and money laundering, according to the Hartford Courant.
Vaccarelli was previously the subject of a complaint by the Securities and Exchange Commission (SEC). In the summer of 2017, the SEC alleged that Vaccarelli fraudulently induced elderly investors to invest with him but instead but their money on personal expenses. The SEC filed its complaint in the U.S. District Court of the District of Connecticut. The complaint alleges that Leon Vaccarelli ran a company called Lux Financial Services, doing business as LWLVACC. The complaint further alleges that Vaccarelli solicited over $1 million for this scheme between September 2012 to early 2017.
Leon Vaccarelli was a financial advisor and registered representative of The Investment Center from February 2011 to August 2017. He worked at a branch office in Waterbury, Connecticut. He has been the subject of at least two customer complaints and also was previously suspended by FINRA for a month in late 2015 for allegations of unauthorized trading.
Brokerage firms like the Investment Center have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Connecticut. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Vaccarelli, Leon SEC Complaint (1)
Click to view: Vaccarelli, Leon BrokerCheck 9.1.17 (1)
Click to view: Vaccarelli, Leon Indictment 2
If you lost money with Leon Vaccarelli, or the Investment Center, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.