Ohio Investment Fraud Law Firm Meyer Wilson Represents Ohio Group of KGTA Investors
Potential Recovery for Ohio Victims of KGTA Petroleum, LLC Investment
The Ohio-based investment fraud Meyer Wilson is currently representing a large group of individual investors who lost millions of dollars in the Ohio company called KGTA Petroleum, LLC (“KGTA”). KGTA was sold to investors as a joint venture that purchases and sells jet and diesel fuel with producers and refiners all over the world. Owners Kenneth Grant and Tom Abraham offered investors a fixed interest rate on their investment of 24 percent annually, two percent monthly. Investors were told that the investment was liquid and that they could access their principal investment on an ongoing basis.
Numerous investors deposited a minimum of $100,000 to escrow bank accounts at either PNC Bank, Fifth Third Bank, or Chase Bank. Escrow accounts were maintained by an attorney named Mark M. George in Independence, Ohio. The investors’ funds in the escrow accounts were only to be disbursed once approved fuel purchase orders were received by KGTA.
Investors stopped receiving interest checks from KGTA, and some investors were notified that KGTA is currently under investigation by federal authorities. Having represented many investors who have lost money in Ohio Ponzi schemes over the past 15 years, I will say that it looks to me like the KGTA investors are not going to get their money back from the company.
In prior Ohio Ponzi scheme cases, our law firm has recovered losses for the individual investors we represent by aggressively pursuing financial institutions that either knowingly or unwittingly participated or assisted in the fraudulent investment scheme. We are applying our extensive experience and success in this area in our current investigation into potential recovery options for the victims of the KGTA situation.
If you or someone you know lost money in the KGTA deal, please contact managing partner David P. Meyer directly for a complimentary case evaluation at (866) 314-1980 or firstname.lastname@example.org.
About Meyer Wilson
The team of investment fraud attorneys at Meyer Wilson has successfully represented nearly 1,000 individual investors from across the country who have suffered financial harm at the hands of stockbrokers, brokerage firms and insurance companies. We have won verdicts, arbitration awards and settlements of hundreds of millions of dollars for our clients. The firm’s main office is in Columbus, Ohio.