Thomas Edward Brenner, Jr., who at one point worked out of a brokerage
firm office in Orrville, Ohio, has been named as a defendant in a federal
securities fraud case filed earlier this week by the U.S. Securities &
Exchange Commission (SEC).
The case, which was filed in the U.S. District Court for the Southern District
of New York, alleges that Brenner; his colleagues Perry Santillo, Christopher
Parris and others; and various entities owned or controlled by Santillo
and Parris, sold sham investments to 637 investors throughout the U.S.
In addition to Brenner, Santillo and Parris, the SEC case also names Defendants
Paul Anthony Larocco and John Piccarreto as parties. Also named are entities
owned or controlled by Santillo and Parris, including First Nationle Solution,
LLC, Percipience Global Corporation, and United RL Capital Services.
According to the SEC:
Defendants Santillo and Parris buy or take over books of business of retiring
investment professionals from around the country. Then Santillo and Parris,
or local sales people, including Defendants Piccarreto, LaRocco, and Brenner,
persuade these newly acquired clients —their victims — to
withdraw their savings from traditional investments and invest in issuers
controlled by Santillo, Parris, or their associates, including Defendants
First Nationle, Percipience, and United RL. The bulk of the more than
$102 million raised in this fraud was purportedly raised for these three issuers.
However, the SEC states that “any business operations for each issuer
appear to be limited or non-existent.” Instead, most of the investor
funds were allegedly misappropriated and used to fund Defendants’
lavish lifestyles or, in classic Ponzi scheme style, to pay alleged “redemptions”
to earlier investors.
The SEC accuses Brenner of selling securities in Percipience and United
RL to Ohio customers. The SEC states that,
“Brenner has been a central figure in Ohio, where Santillo, Parris,
and Brenner and potentially others raised at least $8 million from at
least 74 investors since Apri1 2013.”
Regulatory records show that Brenner was registered as a stockbroker from
1986 until 2016. He was suspended for a number of regulatory issues, including
making misrepresentations in connection with selling securities. He was
then barred from the securities industry after he failed to appear for
testimony requested by the Financial Industry Regulatory Authority (FINRA).
FINRA is a self-regulatory organization that supervises brokerage firms
and their employees.
From 2011 through 2016, Brenner worked for the brokerage firm First American
Securities, Inc. In 2016, First American was accused by FINRA of violating
various industry rules relating to the sale of private placements to brokerage
firm customers. The regulator ordered First American to pay a fine of
$150,000 and disgorge $190,000 in commissions. Although First American
initially consented to the order, it failed to comply and was expelled
from FINRA in March 2017.
If you lost money as a result of investments with United RL Capital, Percipience
Global Corporation, First Nationle Solution, John Piccarreto, Paul Larocco,
Christopher Parris, Perry Santillo, Tom Brenner, or any other similar
investments, please give the lawyers at Meyer Wilson a call today for a
complimentary, no-obligation consultation.