Sandra Ventis, owner of Systematic Financial Associates, pleaded guilty
on April 26th to counts of
securities fraud and transacting criminal property. Ventis allegedly operated Systematic
Financial Services, a second company, solely to front an investment scheme
that targeted the Branchburg-based investment advisor’s clients.
She apparently took $7 million from investors in the scam, which she is
said to have used to pay gambling debts, take exotic vacations, and pay
her own personal expenses. She also is said to have used the money to
cover operating expenses and to pay off previous investors in a
Ponzi scheme fashion.
Ventis allegedly told investors she was using their money to fund loans
to doctors for pension plans in the form of promissory notes. Some investors
were encouraged to sell off other securities in order to invest in the
scheme. She admitted to making up or forging doctor’s names in order
to keep up the promissory note fraud.
Ventis faces a maximum of 20 years in prison with a five million dollar
fine for the count of securities fraud, and ten years with a 250,000 fine
for the count of transacting in criminal property.
investment fraud lawyers with David P. Meyer & Associates represent
stockbroker mediation, arbitration, and litigation claims nationwide. Call us today at (888)
390-6491. As a special bonus to our website visitors, we are offering
a FREE copy of our legal book,
Five Signs of Investment Fraud and What to Do If It’s Happened to You.