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
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.