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Gary Menzer, Esq. is a Founding Partner with The Securities Law Firm of Menzer & Hill, P.A. The Firm represents aggrieved investors that have sustained investment losses due to the negligence of their stock broker or financial advisor and the failure to supervise by their Broker-Dealer. The... More
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  • Glen Galemmo Fraud Investigation 0 comments
    Jul 26, 2013 12:22 PM

    Glen Galemmo ("Galemmo"), a Cincinnati money manager has been accused of running a ponzi scheme with potential client losses of hundreds of millions of dollars. Over the last 14 years, Galemmo had been affiliated with five different broker-dealers, who may be liable for the actions of Galemmo. Under FINRA rules and regulations Broker-Dealers have a supervisory responsibility to monitor the outside business activities of their advisors.

    According to The Securities Law Firm of Menzer & Hill, P.A., it has become more and more evident over the last several years that many broker-dealers are failing miserably in the supervisory responsibilities, which in turn are costing innocent investors millions of dollars.

    Furthermore, it appears rather suspect that some the Broker-Dealers that were affiliated with Galemmo only did so for a very limited amount of time, raising the question whether they asked him to leave and if they potentially knew of his wrongdoing.

    Fortunately, for those investors that were victims of Galemmo's alleged fraud, may have recourse to pursue litigation against those secondary actors that were affiliated with Galemmo.

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