GREGORY ALTIERI REVIEW
This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/gregory-altieri-5YCVZ/nifty-scammer-id5ydpt .
A Nifty Scammer
Today, The Smart Investor Feed brings you another morally reprehensible fraud.
Gregory Altieri has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?
We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.
Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:
Full Report On Gregory Altieri
The Securities and Exchange Commission today charged Gregory Altieri, of Melville, New York, for operating a fraudulent Ponzi-like scheme that defrauded current and retired police officers and firefighters, among others, and misappropriating investor funds.
According to the SEC's complaint, from at least 2017 through early 2020, Altieri, through LNA Associates, Ltd., an entity he owned and controlled, raised over $69 million from at least 80 investors by falsely claiming that the investments would be used to acquire jewelry for a business operated by LNA. Altieri allegedly guaranteed investors that they would quickly receive a return on their investment ranging from approximately 30% of their initial investment to, in some instances, over 100%. However, as the complaint alleges, Altieri used the vast majority of the funds to perpetuate and conceal his fraudulent scheme, using funds from new investors to pay earlier investors their anticipated returns. The complaint further alleges that Altieri also misappropriated at least $3.8 million in investor funds.
The SEC's Office of Investor Education and Advocacy has issued investor alerts on avoiding investment frauds and Ponzi scheme red flags. Additional information is available on Investor.gov and SEC.gov. The SEC's complaint, filed in federal court for the Eastern District of New York, charges Altieri with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks injunctive relief, disgorgement plus prejudgment interest, and civil penalties.
On Dec. 30, 2020, Altieri entered a guilty plea for related conduct before the United States District Court for the Eastern District of New York
Conclusion: Gregory Altieri Is A Fraud
The report on SEC clearly suggests that Gregory Altieri never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.
If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.
Help Us Fight These Criminals
Do you have evidence against Gregory Altieri or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.
Full Disclosure: We sourced this piece of information from the SEC database