Investor Alert > Ponzi Scheme Lawyers Investigating Barred Texas Broker Bill Hightower in the Wake of Ponzi Scheme Allegations

Posted Oct 22, 2018

by Alan Rosca

Ponzi Scheme Lawyers Investigating Barred Texas Broker Bill Hightower in the Wake of Ponzi Scheme Allegations

Barred Texas Broker William Hightower, of Bellaire, Texas, Allegedly Orchestrated a $10 Million Ponzi Scheme from 2013 to 2018

Texas former broker Andrew William Hightower, aka Bill Hightower, from 2013 to 2018, allegedly received more than $10 million from investors as part of a Ponzi scheme, according to Reports from the U.S. Attorney’s Office in the Southern District of Texas under review by ponzi scheme lawyer Alan Rosca.

Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Bill Hightower’s alleged Ponzi scheme. Investors who believe they may have lost money in activity related to Bill Hightower are encouraged to contact ponzi scheme attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Hightower originally made his initial appearance on a 13-count indictment charging him with alleged wire fraud, mail fraud and money laundering, according to U.S. Attorney Ryan K. Patrick, but soon allegations arose that he was allegedly conducting a Ponzi scheme, the Reports state.

Hightower was president of Hightower Capital Group (HCG) which he founded in 2010, the Reports note. Hightower also worked for Legacy Asset Securities, Inc. in Houston, Texas from September 23, 2013 to June 17, 2015, and with UBS Financial Services, Inc. from June 7, 2007 to September 12, 2013, FINRA notes.

Hightower, however, allegedly hid the fact from his clients that FINRA had barred him from acting as a broker or otherwise associating with a broker-deal firm in October 2015, according to the indictment.

Hightower Allegedly Told Investors their Money was being Invested in Different Legitimate Projects, but Instead Used the Cash to Pay Earlier Investors

Hightower allegedly made statements to investors that their money was being invested in various projects, such as restaurants, movies, insurance contracts, among other things, according to the aforementioned Reports.

Hightower, however, rather than purportedly investing their money in legitimate projects, used investor funds to pay earlier investors in a Ponzi Scheme, pay himself and finance his lifestyle.

If convicted, Hightower faces up to 20 years in federal prison for each count as well as a thousands of dollars in possible fines, the Reports note.

Invested with Hightower? Ponzi Scheme Lawyers Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Bill Hightower’s alleged Ponzi scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Bill Hightower’s alleged Ponzi scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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