Philip Moriarty II of Hinsdale, Illinois and Mount Desert, Maine Set for Sentencing on November 30, 2016
Have you lost money with financial advisor Philip Moriarty II of Hinsdale, Illinois and Mount Desert, Maine? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Philip E. Moriarty II, a former registered representative of Guggenheim Investor Services and G Equity Investment Group. The SEC recently barred Moriarty from the securities industry after he pleaded guilty to mail fraud in a criminal matter filed against him in the U.S. District Court for the Northern District of Illinois.
Philip Moriarty II was alleged to have solicited investors to invest in First Street Capital Partners (which purported to provide financial services) and Teton Acadia Capital Partners (which purported to operate sporting goods stores in Jackson, Wyoming). According to the indictment filed against him, Moriarty misrepresented how he would use investor funds. Instead of investing the funds, Moriarty used to money to pay for personal expenses such as a $14,200 fee to a golf club; another $39,100 to a golf, hunting, and fishing club; $23,000 for a boarding school in New Hampshire; and $1,800 to a dog breeder.
Philip E. Moriarty II pleaded guilty to a count of mail fraud earlier in 2016. His sentencing hearing, which was originally scheduled to be in October 2016, is now rescheduled for November 30, 2016.
Philip Moriarty was a financial advisor and registered representative of Guggenheim Investor Services from June 2011 to October 2012. He also was affiliated with G Equity Investment Group (now known as H2C Securities) from April 2008 to March 2011. He worked at a branch office in Hinsdale, Illinois and also has ties to Maine.
Brokerage firms like Guggenheim Investor Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, the Seattle area, Chicago, and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including representing over 150 investors in Illinois in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in Addison. He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb, Illinois. Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington. He also previously lived in the Ravenswood neighborhood on the north side of Chicago. All of our arbitration cases are taken on a contingent fee basis, meaning you do not pay unless we recover money for you.
Click to view: Moriarty, Philip SEC Order
Click to view: Moriarty, Philip BrokerCheck 11.8.16
Click to view: Moriarty, Philip Indictment
HAVE YOU LOST MONEY WITH PHILIP MORIARTY, FIRST STREET CAPITAL PARTNERS, OR TETON ACADIA CAPITAL?
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.