National investment loss lawyers KlaymanToskes is investigating broker Laren Pisciotti (CRD# 5618797) of Principal Pre-IPO Consulting Group LLC and GlobalX VC LLC, following allegations of her involvement in a $120 million pre-IPO fraud scheme. According to FINRA BrokerCheck, Laren Chantel Pisciotti was previously registered as a broker with TD Ameritrade from April 2017 to November 2020 in Princeton, NJ.
Laren Pisciotti, along with co-conspirators, John LoPinto and Robert Wilkos, are facing charges from the Securities and Exchange Commission (“SEC”) alleging that they defrauded more than 900 investors through investments in private funds that falsely claimed to hold shares in pre-IPO companies. According to the SEC, Pisciotti used her ownership and control of several entities, including Principal Pre-IPO Consulting Group LLC and GlobalX VC LLC, to facilitate the fraudulent scheme between October 2019 and December 2022.
According to the SEC’s complaint, from October 2019 to December 2022, Pisciotti and her partners raised $120 million by misleading investors about the nature of the investments, falsely claiming there were no upfront fees and that the funds were registered with the SEC, while secretly enriching themselves through at least $16 million in commissions. Additionally, many investors never received the pre-IPO shares they were promised.
Investors that suffered losses with broker Laren Pisciotti are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
The U.S. Securities and Exchange Commission (SEC) has taken legal action against financial advisors Laren Pisciotti, John LoPinto, and Robert Wilkos. The SEC alleges that the three individuals were involved in a $120 million fraud scheme related to investments in pre-IPO companies. The SEC’s complaint states that from October 2019 to December 2022, these individuals reportedly raised about $120 million from more than 900 investors in the United States and other countries.
The SEC’s allegations suggest that the investments were made under the false impression that they involved shares in pre-IPO companies. These are companies that are privately held and have not yet offered their shares to the public. The defendants allegedly claimed that their funds were invested in these pre-IPO opportunities, promising high returns due to the expected appreciation once the companies went public. However, according to the SEC, many of these claims were fabricated, and the funds did not own the pre-IPO shares as promised. Investors were reportedly misled into believing they were participating in exclusive, lucrative deals when, in reality, they were victims of a fraudulent scheme designed to line the pockets of Pisciotti and her associates.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Laren Pisciotti. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Laren Pisciotti, or have concerns regarding your investment portfolio, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.