Leon Vaccarelli, Connecticut Advisor Formerly with THE INVESTMENT CENTER Charged with Fraud

LEON WILLIAM VACCARELLI CRD#: 3227636, a 41 year-old financial advisor formerly with THE INVESTMENT CENTER of Waterbury, Connecticut, was charged with fraud and money laundering in a 12-count indictment in federal court. The charges against Vaccarelli include three counts of mail fraud, six counts of wire fraud, and three counts of money laundering. Leon Vaccarelli could face up to 210 years in prison.

According to the federal prosecutors, Leon Vaccarelli allegedly defrauded at least nine of his clients out of $1 million.  Vaccarelli is also charged with misappropriating $300,000 from an 88-year-old woman, to pay for tuition and his mortgage payments. The elderly woman, received the money she gave Vaccarelli from selling her condo.  The 88-year-old woman was living in a nursing home at the time, and according to court documents, she never agreed to change her investments without the input of her daughter or son-in-law, who is a lawyer.  Vaccarelli allegedly needed her money to pay off another client $60,000, so he deposited her $300,000 into a bank account he controlled, instead of the client’s account, according to the complaint which was brought by the SEC in August. The SEC brought civil charges against Vaccarelli last year.

The federal prosecutors allege that between 2011 through 2017, Leon Vaccarelli told his clients he would invest their funds in retirement products, which included IRA rollover accounts, money market accounts, and other interest-earning investments.  Vaccarelli instead deposited the money into his own personal account and used his clients’ funds to pay business and personal expenses and made phony interest payments to other investors.

Leon Vaccarelli was formerly registered with The Investment Center, during the period of his alleged fraud. The Investment Center discharged Vaccarelli in July of 2017 according to FINRA’s BrokerCheck.

According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, Leon Vaccarelli has 14 Disclosures on his report, 7 of these recent Disclosures are “Customer Disputes,” all pending and all filed in 2017, the majority of the allegations are, “conversion and civil theft.”

Leon Vaccarelli has been registered in the securities industry for 17 years, and listed with 4 firms, the 2 most recent listed below:

02/14/2011 – 08/03/2017 THE INVESTMENT CENTER – WATERBURY, CT

05/24/2007 – 02/11/2011 QA3 FINANCIAL CORP – WATERBURY, CT 

If you or an elderly family member were victims of financial advisor, Leon Vaccarelli formerly with THE INVESTMENT CENTER of Waterbury, Connecticut, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552. 

Soreide Law Group represents our clients nationwide before FINRA.  We operate on a contingency fee basis, no fee to you if no recovery.

2018-05-09T18:16:02+00:00May 9th, 2018|

This site is protected by wp-copyrightpro.com