Call Now For a Free Consultation:
(614) 502-6165

Attorney David Meyer to Speak at 2018 Ohio Securities Conference to Discuss Case Against Ohio Ponzi Schemer William Apostelos

Meyer Wilson founding attorney David Meyer will take part in a presentation discussing the Ponzi scheme run by William Apostelos, which cost 500 people more than $32 million. Apostelos is currently serving 15 years in prison for this scheme.

The presentation, “The Anatomy of an Enforcement Case” is part of the 2018 Ohio Securities Conference on October 26 that will be held at the Westin Downtown Hotel in Columbus, Ohio. More information on the event can be found on the official website here.

The presentation will cover Apostelos’ scam, which convinced victims that it was necessary to open new accounts with a “self-directed IRA custodian.” These custodians specialize in unconventional investment vehicles – the very type of investments most often utilized by fraudsters. After Apostelos’ Ponzi scheme fell apart, a number of victims brought a civil case against two of the self-directed IRA custodians in federal court. They alleged that the companies participated and aided in the sale of illegal securities in violation of the Ohio Securities Act. Mr. Meyer’s law firm was not involved in the federal court civil case.

The defrauded investors lost their initial case in the trial court and then appealed to the federal appeals court. That court in turn certified a question to the Ohio Supreme Court, asking if self-directed IRA custodians could be held liable under Ohio’s Securities laws for participating or aiding in the illegal sale of securities.

While Meyer Wilson did not represent the defrauded investors in this case, he filed an Amicus Brief with the Ohio Supreme Court on behalf of the Public Investors Arbitration Bar Association. The court’s final opinion in Boyd v. Kingdom Trust Co., Slip Opinion No. 2018-Ohio-3156 can be found here (PDF). David Meyer will discuss the decision of the Ohio Supreme Court during this presentation, as well as the impact that decision may have on other Main Street investors in Ohio.

Joining Mr. Meyer in the presentation is Brent Tabacchi, Assistant United States Attorney for Southern District of Ohio, and Laurel Vant, Special Agent, Internal Revenue Service.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram