We have been following the case involving Jerry Cicolani, Jr. and Kelly Hood relating to the Ponzi scheme involving KGTA Petroleum. Last month, we posted a blog regarding charges the SEC brought against Cicolani and Hood for their involvement in the Ponzi scheme. Now, both respondents have submitted an Offer of Settlement.
For Cicolani and Hood, the sanctions include a bar from any association with a brokerage firm or investment advisory firm. They had already previously both been barred from the industry by the Financial Industry Regulatory Authority (FINRA) for refusing to cooperate in an investigation by FINRA into the KGTA Ponzi scheme.
We have discussed the case in previous blogs:
- Ohio Men Indicted for Allegedly Defrauding $17 Million Out of Investors
- Jerry Cicolani Facing Charges on Accusations for His Involvement in KGTA Ponzi Scheme
- Meyer Wilson Represents Victims of KGTA Ponzi Scheme
- Meyer Wilson Investigates KGTA Ponzi Scheme
If you invested and lost money with Jerry Cicolani or Kelly Hood, call our securities fraud attorneys today to discuss. At Meyer Wilson, we offer free case reviews in order to discuss the specific details of your situation. We’ll take the time to listen to your case and explain if you have a valid claim.