Carmen Occhipinti pled guilty to a 17-count indictment relating to allegations that Occhipinti defrauded investors out of more than $1 million.
The Peiffer Rosca Cleveland investment fraud lawyers Alan Rosca and James Booker are investigating the matter.
Occhipinti Accused of Misleading Investors Regarding Their Investments with His Granite Businesses
Occhipinti maintained offices in Mentor, Ohio and Woodmere, Ohio. Occhipinti operated a number of companies, including Marble Tiles of Italy, Marble and Tile Company of Italy, Brunello Marble & Granite, Carrara Bricks & Blocks Company, Granite and Tile Imports, Bella Cucina Granite and Portofino Marble Tile, according to court documents.
Occhipinti defrauded investors by encouraging them to invest in his granite businesses through false and fraudulent misrepresentations and omissions of material facts about the nature and use of the investments, according to the indictment issued by a federal grand jury. Occhipinti misled investors to believe that their money would be used to purchase materials for jobs, however, that money was used to enrich himself, to payoff earlier investors, and to pay his personal expenses related to trips to Peak and Peak Resort and Mountaineer Casino, according to the indictment.
Some investors received a small, fractional return of their investments. However, many defrauded investors received nothing and lost more than $1 million, according to the indictment.
Occhipinti took advantage of business relationships, religious organizations, social organizations and other means to establish trust and find prospective investors, according to the indictment.
Cleveland Investment Fraud Lawyers Investigating Carmen Occhipinti
The Peiffer Rosca Cleveland investment fraud lawyers often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or James Booker, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.