Donald S. LaGuardia, Jr. Allegedly Misappropriated $2.6 Million from Private Funds Advised by L-R Managers & from Subscriptions Intended to be Invested in One of the Funds
Donald S. LaGuardia, Jr. a Lavallette, New Jersey resident, allegedly controlled the investment adviser, L-R Managers, LLC, and allegedly misappropriated investor money from private funds advised by L-R Managers and from subscriptions intended to be invested in one of the funds, according to an SEC Report under review by investor rights attorney Alan Rosca.
Donald S. LaGuardia, Jr., a founder and managing principal of a New York-based investment adviser, specifically, allegedly misappropriated approximately $2.6 million from investors and then purportedly concealed part of the misappropriation through fraudulent accounting devices, the SEC reports.
Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Donald S. LaGuardia, Jr.’s alleged misappropriation from private funds. Investors who believe they may have lost money in activity related to Donald S. LaGuardia, Jr.’s alleged misappropriation from private funds are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
LaGuardia Allegedly Concealed Part of His Purported Misappropriation Via a Sham Receivable & Promissory Note; LaGuardia Allegedly Used the Money for Personal Expenses
LaGuardia, beginning in at least 2013, allegedly misappropriated investor money from private funds advised by L-R Managers and from subscriptions intended to be invested in one of the funds, the SEC states. Â
LaGuardia then allegedly concealed part of this misappropriation through a sham receivable and promissory note, and, according to the SEC Complaint, LaGuardia allegedly used the money to pay for personal and L-R Managers expenses, including home renovations, salaries, and rent.
Said SEC Complaint, filed in the U.S. District Court for the Southern District of New York, also alleges that LaGuardia and L-R Managers purportedly used other accounting devices to inflate the capital account balances and returns reported to investors and made material misrepresentations about fund audits, expenses and performance.
L-R Managers reportedly filed for bankruptcy in June 2017, the SEC notes.
The SEC’s complaint, charges LaGuardia with violating the antifraud provisions of the Securities Act of 1933, Sections of the Securities Exchange Act of 1934 and of the Investment Advisers Act of 1940, the SEC Complaint reports. Â
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
Securities Lawyer 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 Donald S. LaGuardia, Jr.’s alleged misappropriation from private 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.
Investors who believe they lost money as a result of Donald S. LaGuardia, Jr.’s alleged misappropriation from private funds 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.