Daniel B. Vazquez, Sr. Allegedly Misappropriated over $780,000 in a Fraud Scheme involving a $2.18 Million Real Estate Investment Fund with 27 Investors
Daniel Vazquez, a financial advisor from Cetera Advisors and the COO of his RIA, allegedly misappropriated $780,000 since January 2013 as part of a real estate fraud scheme, according to Reports from the SEC under review by attorney Alan Rosca.
Attorney Rosca, of the RoscaLaw LLC firm, is investigating Daniel Vazquez’s alleged misappropriation of funds. Investors who believe they may have lost money in activity related to Daniel Vazquel’s alleged misappropriation of funds are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Daniel Vazquez, of Irvine, CA, and his Hoplon Financial Group, reportedly created the New Economic Opportunities Fund I, LLC vehicle to purportedly pool investor funds to purchase and flip residential real estate properties, according to the aforementioned Reports from the SEC.
Vazquez and Hoplon allegedly sold membership units in said fund which raised $2.18 million from 27 investors, mostly from investors’ IRA funds, the SEC Reports state. These sales, however, were allegedly based on alleged misrepresentations about how much compensation they would receive, the SEC Reports notes, and Vazquez allegedly misappropriated the aforementioned $780,000 from these monies.
Vazquez and Hoplon Allegedly Violates Federal Broker-dealer Registration Provisions; Vazquez Allegedly Used Clients’ Money for Business & Personal Expenses
Hoplon and Vazquez, by promoting and selling the aforementioned securities, allegedly violated federal broker-dealer registration provisions, according to aforementioned Reports by the SEC under review by attorney Alan Rosca. Daniel Vazquez allegedly used his clients’ money to pay for unrelated business expenses and personal expenses such credit card debt, luxury cars, and home improvements for himself and his staff, according to a civil complaint filed earlier this month. Meanwhile, excluding a single small payment, none of the investors received profits or even their principal, the SEC reports.
Hence, based on the aforementioned behavior, the SEC is seeking full disgorgement in the case, according to an SEC Complaint, and Vazquez and the firm are facing two counts of alleged securities fraud and one count of allegedly operating an unregistered broker-dealer.
Securities Lawyer Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Daniel Vazquez’s alleged misappropriation of funds. 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, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they have lost money as a result of Daniel Vazquez’s alleged misappropriation of funds may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998- 0530, via email at arosca@roscalaw.com, or through the contact form on this webpage.
