ATTENTION CURRENT AND FORMER OPPENHEIMER CUSTOMERS WHO INVESTED IN HORIZON PRIVATE EQUITY III: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of Potential Claims on Behalf of Oppenheimer Customers Over Ponzi Scheme Losses
September 03 2021 - 9:39AM
Business Wire
National investor fraud law firm, KlaymanToskes (“KT”), has
commenced an investigation of potential FINRA arbitration claims on
behalf of former and current Oppenheimer & Co., Inc.
(“Oppenheimer”) (NYSE: OPY) customers who invested in the alleged
Horizon Private Equity III (“Horizon”) Ponzi scheme.
Investors are suing Oppenheimer for its role in enabling a
massive Ponzi scheme devised by Marietta, Georgia resident and
former Oppenheimer registered representative, John Woods, which was
operated through his firm, Southport Capital. From 2008 to 2016,
John Woods and his brother Jim Woods allegedly solicited a
significant number of customers from Oppenheimer to invest in
Horizon while Woods was registered as a broker and investment
adviser with the brokerage firm. Investors were told they would
earn a return by investing in government bonds, stocks or real
estate projects. However, Horizon has allegedly not earned any
significant profits from these investments, and were only able to
pay the guaranteed return to existing investors by raising and
using new money.
According to a recently filed SEC Complaint, as of July 2021,
over 400 investors across 20 states held Horizon investments, and
were owed over $110M in principal. Many investors are elderly
retirees.
The sole purpose of this release is to investigate potential
FINRA arbitration claims relating to Oppenheimer’s supervision of
John Woods and the Horizon Ponzi scheme. Current and former
Oppenheimer customers who invested in Horizon from 2008 to 2016 and
who have information related to the handling of their investments,
are encouraged to contact securities attorney Lawrence L. Klayman,
Esq., at (561) 542-5131, and download our Special Report.
About KlaymanToskes
KT is a leading national securities law firm which practices
exclusively in the field of securities arbitration and litigation
on behalf of retail and institutional investors throughout the
world in large and complex securities matters. KT has recovered
more than $220 million for investors in FINRA arbitrations. KT has
office locations in California, Florida, New York, and Puerto
Rico.
Destination:
https://klaymantoskes.com/horizon-oppenheimer-ponzi-scheme-investigation/
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version on businesswire.com: https://www.businesswire.com/news/home/20210903005280/en/
KlaymanToskes Lawrence L. Klayman, Esq. (561) 542-5131
lklayman@klaymantoskes.com www.klaymantoskes.com
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