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

The Investment Fraud Attorneys at Meyer Wilson Are Investigating Claims and Speaking to Victims of Philip Incorvia’s Alleged Ponzi Scheme

Meyer Wilson is investigating claims that Philip Incorvia, a long-time broker at Henley & Co. out of New York, may have sold clients fraudulent investments. Incorvia died in August 2021. After his death, victims have come forward to allege that Incorvia sold them what now appear to be fictitious funds, including Vanderbilt Realty Investors and Jefferson Resources. Incorvia worked out of a branch of Henley & Co. in Shoreham, New York from 2006 until his death in 2021.

Public records show that Incorvia had previously been the subject of two customer complaints and a regulatory action in which Incorvia was fined and sanctioned for allegedly signing customers signatures on paperwork without their knowledge or approval.

The investments in Vanderbilt Realty Investors and Jefferson Resources are alleged by investors to be a Ponzi scheme - a fraudulent investment operation that pays “returns” to investors from their own money, or money paid by later investors, rather than from an actual earned revenue. These schemes are illegal and operate on the “rob Peter to pay Paul” principle, where money from new investors is used to pay off the previous investors.

Once the scheme itself unravels—as they always do—investors are left asking themselves, “How can I get my money back?” 

Brokerage firms, like Henley & Co., can be held responsible for the losses sustained by victims of the fraud if the firm failed to adequately supervise its broker. Brokerage firms may not turn a blind eye while their representatives sell sham investments otherwise run rampant with its customers’ assets. They have an affirmative duty to implement and operate a robust supervisory system that adequately monitors and detects this type of misconduct. If their supervisory systems fail, they can be held liable for failing to meet the standard of care owed to investors.

Proving that a brokerage firm was negligent, and that their negligence allowed broker misconduct, can be difficult and often requires extensive investigation on the part of a qualified attorney. The investment fraud attorneys with Meyer Wilson represent investors nationwide and have recovered millions of dollars in losses for clients. If you lost money working with Philip Incorvia, we would like to talk to you about your legal options. Call us or complete our online form for a free case evaluation.

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