November 20, 2013

Financial Advisor Pleads Guilty in NBA Players Union Financial Fraud

Joseph Lombardo, the 72-year-old founder of Ohio-based Prim Capital Corporation, has pleaded guilty in Manhattan Federal Court, on November 14th., to mail fraud and conspiracy to obstruct justice. Joseph Lombardo faces a possible 20 year sentence in prison. He is scheduled for sentencing March 20th.

It was alleged that Lombardo used a stamp to forge the signature of a general counsel for the National Basketball Players Association who was deceased, and another employee. By doing this Prim paid Lombardo a $3 million fee over five years. Prim Capital handled NBA players union investments and finances.

Soreide Law Group represents clients nationwide. If you or a family member have sustained losses due to your stock broker or financial advisor’s recommendations, call for a free consultation with an attorney on how to potentially recover your losses at 888-760-6552.

Joseph Lombardo, the 72-year-old founder of Ohio-based Prim Capital Corporation, has pleaded guilty in Manhattan Federal Court, on November 14th., to mail fraud and conspiracy to obstruct justice. Joseph Lombardo faces a possible 20 year sentence in prison. He is scheduled for sentencing March 20th.

It was alleged that Lombardo used a stamp to forge the signature of a general counsel for the National Basketball Players Association who was deceased, and another employee. By doing this Prim paid Lombardo a $3 million fee over five years. Prim Capital handled NBA players union investments and finances.

Soreide Law Group represents clients nationwide. If you or a family member have sustained losses due to your stock broker or financial advisor’s recommendations, call for a free consultation with an attorney on how to potentially recover your losses at 888-760-6552.

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