INVESTOR ALERT: Conrad & Scherer and LKLSG Investigating Potential Lawsuit Relating to Alleged $528 Million Scheme Targeting More Than 4,000 Investors

MIAMI, Jan. 2, 2024 /PRNewswire/ -- In a recently filed enforcement lawsuit, the Securities and Exchange Commission ("SEC") alleges that Raymond J. Pirrello, Jr., Marcello Follano, Robert Cassino, Anthony DiTucci and Joseph Rivera, through New Jersey- or New York-based companies Prior 2 IPO Inc., Late Stage Asset Management, LLC, Pre IPO Marketing Inc., and JL Rivera Enterprises Ltd., perpetrated a $528 million scheme against hundreds of unwitting investors. 

The SEC alleges that Pirrello, through a nationwide network of unregistered sales agents, raised hundreds of millions of dollars from more than 4,000 ordinary investors by soliciting unregistered offerings of pre-IPO securities. The agents allegedly told investors that there would be no upfront fees on the pre-IPO offerings, and that the agents would only make a profit post-IPO. Instead, the SEC alleges, investors were charged undisclosed markups approaching 150 percent, allowing Pirrello and the sales agents to pocket $88 million.

The SEC also alleges that the unregistered network of sales agents purposely concealed Pirrello's involvement because Pirrello had been barred by the SEC from associating with broker-dealers and had been found liable for insider trading.

The law firms of Conrad & Scherer in Ft. Lauderdale and Levine Kellogg Lehman Schneider + Grossman LLP in Miami are investigating potential legal action designed to help victims of the Prior 2 IPO scam. If you invested in the scheme, please contact attorney Jason Kellogg at the information above or through [email protected].

The Firms represent clients nationwide.

Attorney Advertising. The law firms responsible for this advertisement are Conrad & Scherer (www.conradscherer.com) and Levine Kellogg Lehman Schneider + Grossman LLP (www.lklsg.com). Prior results do not guarantee or predict similar outcomes with respect to future matters. Opportunities to discuss your particular case are welcomed. All communications are treated confidentially.

About Conrad & Scherer

Conrad & Scherer is a Ft. Lauderdale, Florida-based renowned trial attorney firm recognized for its expertise in high-stakes, complex litigation. The firm's services encompass intricate civil litigation, including bank fraud and Ponzi scheme litigation.

About Levine Kellogg Lehman Schneider + Grossman LLP

LKLSG is a Miami-based commercial law firm providing focused, efficient, and hands-on representation in high-stakes legal proceedings including complex commercial litigation, class actions, bankruptcy and receiverships, lender/borrower litigation and workouts and labor and employment litigation.

CONTACT:
Jason Kellogg, Esq.
Email: [email protected]

SOURCE Levine Kellogg Lehman Schneider + Grossman