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The Goldman Scarlato & Penny (GSP) law firm has a team of investment fraud lawyers investigating potential claims for compensation on behalf of investors who lost money invested in Horizon Private Equity. This is following securities fraud claims filed by the Securities and Exchange Commission (SEC), which alleged that John J. Woods — an investment adviser in Marietta, Georgia — perpetrated a Ponzi scheme through the investment firm Horizon Private Equity. According to the SEC claim, John Woods has allegedly defrauded over 400 investors in 20 different states for more than $110 million. The GSP firm has been retained and is preparing to take action on behalf of victimized investors.The massive Ponzi scheme was allegedly perpetrated through Horizon Private Equity, a supposed investment firm that Woods controlled. According to court records under review by GSP investor rights attorney Alan Rosca, many of the investors defrauded were elderly retirees who trusted Woods with their life savings. Records indicate that the Ponzi scheme started no later than 2008.
On an August 30 updated posted on the “John J. Woods and Horizon Private Equity Investor Center”, the Goldman Scarlato & Penny team also stated that “Based on documents we have reviewed so far, we believe that this alleged fraudulent investment was sold to many former military servicemen and women as well as numerous retirees.” GSP will continue to post updates as the case develops and they uncover more information.
Court records show that a substantial amount of the investor money moving through the alleged Ponzi scheme was used for payments to existing investors. That is standard practice when running a Ponzi scheme — the money placed in the scheme by new investors is used to pay old ones to create the appearance of real returns, when in fact no real value is being generated. On top of being used for these payments, investor money was also transferred to other companies related to John Woods, according to court records.
What to do if you were affected
Concerned investors are encouraged to contact GSP through John J. Woods and Horizon Private Equity Investor Center, which can be found on https://investorlawyers.org/john-j-woods-and-horizon-private-equity-investor-center/. GSP investor fraud attorneys Alan Rosca and Paul Scarlato have been investigating this matter on behalf of investors who have been victimized, and they have already assembled a considerable amount of evidence. They have been retained and are currently evaluating potential recovery options for investors involved in the alleged Ponzi scheme.
If you believe you have been affected, you can contact attorneys Alan Rosca or Paul Scarlato for a free, no-obligation evaluation of your options through the investment center or by calling the number below. GSP investor lawyers take most cases of this type on a contingency fee basis and advance the case costs. This means that there are no fees or costs if nothing is recovered.
Contact
Contact Info:
Name: Paul Scarlato
Email: Send Email
Organization: Goldman, Scarlato & Penny law firm
Phone: 484-342-0700
Website: https://investorlawyers.org/
Release ID: 89048688
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