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Judgements Awards & SettlementsGillette sued by dozen more clients A dozen local clients of former investment broker Nevin Gillette filed eight suits against him Tuesday in Whiteside County court, and 21 more are pending, their attorneys said. All told, about 30 suits involving 35 investors will be filed within the month, seeking compensatory damages in excess of $6 million, as well as unspecified punitive damages, interest and fees, attorney John Burke said. The two representatives, Nevin Gillette and Richard Wells, ran two long-running Ponzi schemes, according to the attorneys who represented the clients, John Burke of Higgins and Burke PC in St. Charles, Ill., and Andrew Stoltmann at an eponymous firm in Chicago. Lawyers File 30 Lawsuits Against Rogue Financial Advisor A dozen local clients of former investment broker Nevin Gillette filed eight suits against him Tuesday in Whiteside County court, and 21 more are pending, their attorneys said. Pingatore victim of Ponzi scheme White far west suburban investment broker has been accused of defrauding friends and associates through a Ponzi scheme of more than $1.4 million — including $500,000 from legendary St. Joseph basketball coach Gene Pingatore — and that total loss to investors could rise into the tens of millions of dollars. SUGAR GROVE—A Sugar Grove securities broker, Algird M. Norkus, allegedly swindled investors across the country of hundreds of thousands of dollars. One of his alleged victims, Eugene L. Pingatore of Westchester, Ill., is suing Norkus in Kane County Court, and many others plan to do the same, a local attorney said. CHICAGO, July 30, 2010 (GLOBE NEWSWIRE) -- Stoltmann Law Offices and Higgins and Burke, P.C. announce they filed an arbitration claim on behalf of a Linsco Private Ledger (LPL) client who sustained losses because of investments made in Malarz Equity Investment, LLC (MEI"). How 10 suburban investors were duped out of savings by one broker Sharon Schmidt of Gurnee drove a bus for a living until an accident forced her into disability. She and her husband, a computer technician, had depended on her niece's ex-husband, Raymond Londo, to guide their investments over the years so they could retire comfortably. |
