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Recovering Losses Caused By Investment Misconduct

Federal Prison Sentence for Man Involved in Chicago Investment Fraud

Scott Ross, of Woodstock, was sentenced to six years in federal prison and must pay restitution after pleading guilty in March to one count of mail fraud. Ross was accused of using his Harbor Wealth Management LLP to sell various investments, one of which was supposedly involved in developing new computer monitor technology. Ross allegedly made false statements to his clients about the risks involved in the investments and his own business and investment background. It is stated that Ross was paying himself a $319,000 yearly salary and also making payments to previous investors who complained, essentially creating a Ponzi scheme.

Ross will begin serving his six year sentence on October 18th this year, but officials say it's unlikely that his victims will see much of the $3.7 million in restitution they are owed. Ross' assets, both personal and business, have already been liquidated and distributed to victims. The assets were liquidated for $2.7 million.

If you have been the victim of a Chicago Ponzi scheme, contact the experienced FINRA arbitration lawyers with David P. Meyer & Associates. We have the knowledge and experience you need to get the results you deserve through stockbroker mediation, arbitration, and litigation.

Categories: Investment Fraud

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