Did Imprisoned Oppenheimer Broker John Woods Defraud You In $110M Horizon Private Equity III Scam? Our Stockbroker Misconduct Attorneys May Be Able To Help
Shepherd Smith Edwards and Kantas Stockbroker Misconduct Attorneys (investorlawyers.com) are continuing to investigate claims of investor losses involving the $110M Horizon Private Ponzi Fraud once run by convicted former Oppenheimer financial advisor John Justin Woods. The former stockbroker, who pleaded guilty to wire fraud, defrauded hundreds of investors, including many seniors, retirees, and veterans, from around the United States.
He operated his scheme through Livingston Group Asset Management Company (Southport Capital) and his Horizon Private Equity III LLC, and he also worked as an Oppenheimer registered representative. This is why the broker-dealer has been sued by many of Woods’ victims.
To date, Oppenheimer has reached settlements totaling over $50M with many of Woods’ victims, who accused the firm of breach of fiduciary duty, negligence, failure to supervise, and more. As his brokerage firm of record for several of the years that the ex-Georgia financial advisor ran his scam, Oppenheimer had a duty to identify red flags indicating that Woods was defrauding investors.
Woods was sentenced last year to eight years in prison. He was ordered to pay $49.6M in restitution to his victims.
Representing Investors Against Oppenheimer
Shepherd Smith Edwards and Kantas Stockbroker Misconduct Attorneys work with investors all over the US against the largest broker-dealers in the country. This includes Oppenheimer, who also recently came under fire for its Oppenheimer Portfolio Enhancement Program (PEP) it may have unsuitably recommended to wealthy customers. Many of these investors have since sustained serious losses and some of them have complained that they were never fully apprised of the risks.
There are also allegations of margin abuse involving this proprietary investment strategy.
Even if Oppenheimer was unaware that Woods was running his Horizon Private Equity III Ponzi scam, it can still be held liable for his fraudulent actions. His affiliation with the broker-dealer alone added credibility to his work as a financial advisor, which made it even easier for him to defraud his victims.
Our Stockbroker Misconduct Attorneys represent retail investors, retirees, seniors, veterans, accredited investors, wealthy investors, and institutional investors in recouping the losses they sustained due to financial advisor fraud or negligence. Many of us are former brokers who quit that industry because of a lot of the unsavory practices that we witnessed.
It is why we do what we do now, which is to fight for investors and try to make them financially whole again. Securities law is the only kind of law we practice. We know what it takes to maximize an investor’s chances for a full recovery.
Call (800) 259-9010 or fill out this form for your free case assessment.