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

SEC Charges New Jersey Man With Defrauding Small Businesses

The SEC has charged Nicholas Lattanzio, a New Jersey man who was allegedly posing as a hedge fund manager, with fraud. According to the SEC, Lattanzio promised a number of small businesses substantial returns if they invested in Black Diamond Capital Appreciation Fund, a hedge fund that Lattanzio said he controlled. According to the SEC’s charges, Lattanzio bilked investors out of $4 million.

The SEC alleges that Lattanzio promised investors that they could withdraw their money if the investment didn’t work out. He also allegedly claimed, falsely, that Black Diamond possessed $800 million in assets under management and regularly generated double-digit returns. In reality, according to the SEC’s complaint, Black Diamond never had more than $5 million.

Lattanzio allegedly used most of the money generated by the scheme on himself and his family, purchasing things like a million-dollar home, a luxury car, and jewelry.

Small businesses have a legitimate need for financing, and Lattanzio allegedly took advantage of this. According to the Director of the SEC’s New York Office, Lattanzio “falsely reassured his investors they were earning profits while he was swiping their money to bankroll his affluent lifestyle that he otherwise could not afford.”

In addition to the SEC’s fraud charges, the U.S. Attorney for the District of New Jersey announced criminal actions against Lattanzio.

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