Investor Alert > James Polese— Alleged Schemes to Defraud Clients
Posted Oct 15, 2018
by Alan Rosca

James Polese— Alleged Schemes to Defraud Clients

James Polese Allegedly Orchestrated Schemes to Defraud Clients

James Polese allegedly engaged in various schemes to defraud clients, according to a Complaint from the SEC in the U.S. District Court of Massachusetts under review by investor rights attorney Alan Rosca.

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

James Polese, 51, resides in Wenham, Massachusetts, and was registered with the Financial Institution as an investment adviser representative and broker-dealer registered representative in Boston, Massachusetts from May 2010 until his termination in June 2017, the SEC notes.

James Polese Allegedly Used $100,000 from a Client, Allegedly without Said Client’s Consent, to Invest in a Wind Farm Project which Polese Was Personally Involved

James Polese, for example, on or about August 20, 2014, allegedly used $100,000 from the account of a client, without the purported consent of said client, in order to reportedly invest in a wind farm project which Polese had allegedly invested and was involved, according to the aforementioned Complaint under review by investor rights attorney Alan Rosca.

Said project was not an authorized investment opportunity offered by the Financial Services Company, the Complaint reports.

Polese also allegedly, on or about May 15, 2015, used $400,000 from the account of a second client, without said client’s consent, to back an Irrevocable Standby letter of Credit in support of said wind farm project, at a cost of $6,000 to said client, the Complaint states.

James Polese, on or about Much 24, 2016, also allegedly transferred $350,000 from the account of the second client, again without consent, into a real estate investment, the Complaint reports. $50,000 of the investment was to be held in Polese’s name, even thought he had not contributed any of his own money to the investment, the Complaint notes.

The U.S. attorney has ordered that Polese forfeit any property, real or personal, that constitutes, or is derived from, proceeds traceable to the commission of the offenses, the Complaint states.

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 James Polese‘s alleged various fraud schemes. 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 James Polese‘s alleged various fraud schemes 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.

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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.

Contact us at 888‑998‑0530 or through the contact form on this page.
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