The Wolper Law Firm is looking to speak with brokerage firm customers who were recommended to purchase Essex Capital Corp., an equipment leasing company that sold promissory notes through third party advisors. According to the SEC Complaint, filed in June, Essex Capital Corp. perpetrated an $80 million fraud spearheaded by its CEO, Ralph Iannelli.
According to the SEC, Essex Capital Corp. sold approximately $80 million in promissory notes to raise capital for Essex. These promissory notes were sold through third party advisors, including Daniel Investment Associates and Granger Management.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Daniel Investment Associates, Granger Management, or otherwise were sold promissory notes issued by Essex Capital Corp., you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.