Gaston E. Cantens, 73, will now be facing federal criminal charges for
his part in an alleged real estate
Ponzi scheme. Cantens, along with his wife, had previously faced charges from the U.S.
Securities and Exchange Commission (SEC) and settled in that case last
year. The investigation initially came after the news broke in 2009 that
Cantens' company was being pursued in both bankruptcy court and through
Cantens is accused of luring in investors though his company Royal West
Properties with a supposedly “risk-free” investment opportunity.
According to court documents, he claimed that these collateralized real
estate investments were safely backed with mortgages and properties.
Unfortunately, it is believed that Cantens did not use the cash for investing
and instead used the money coming in from new investors to pay off previous
investors. Belen Jesuit Preparatory School is said to be among those victims
taken in by the alleged investment scam, and Cantens had been a board
member with the school.
investment fraud attorneys with Meyer Wilson represent investors in
stockbroker mediation, arbitration, and litigation nationwide. We would like to remind investors
to always carefully research any investment opportunity, especially those
that sound "too good to be true." If you have already suffered
investment losses in a Ponzi scheme or stock scam, speak with one of our
experienced Ponzi scheme lawyers today for more information about what
to do next and a free evaluation of your case.