The Securities and Exchange Commission (SEC) recently barred former New Jersey investment adviser Larry S. Werbel after he pled guilty to one count of investment adviser fraud and one count of conspiracy to commit securities fraud in September of 2017.
He was registered as an investment adviser from 2011 through 2015, and owned and operated Evolution Partners Wealth Management, based out of Milburn, NJ. He also had an office in Cleveland, OH. As part of his guilty plea, Werbel admitted that he introduced clients to VGTel Inc. and described it as an,
“investment opportunity.” He admitted that he “willfully failed to tell these clients that he was being compensated to recommend the purchase of VGTel securities… through an agreement with Ed Durante, a codefendant in the case.”
Our attorneys at Meyer Wilson have been paying close attention to Werbel since the SEC first filed a complaint against him in January of 2016. If you lost money investing with this former broker, contact our firm today to discuss your legal options and set up a free, in-depth consultation.