Cygnus Capital Management LLC Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
The Securities and Exchange Commission today announced charges against Cygnus Capital Management, LLC and the Estate of Richard Ventrilla, Cygnus’s former owner, for defrauding at least 22 investors who invested a total of nearly $1 million.
According to the SEC’s complaint, from at least September 2015 through March 2020, Cygnus and Ventrilla, a Clarence, New York resident who died on September 2, 2020 and was previously convicted of extortion in 1999, made false and misleading statements to investors and misappropriated assets from investment advisory clients. The complaint alleges that Ventrilla told investors that he would invest their funds in publicly traded securities and repay them with trading profits, promising a guaranteed rate of return between 7% and 8%. The complaint alleges that, in reality, Ventrilla had no basis for these statements and used only approximately ten percent of total investor funds to trade securities, spending the majority of investor funds to support his lifestyle or to repay other investors. The complaint also alleges that Ventrilla led at least sixteen investors who had become investment advisory clients to believe that he would manage their assets using separately managed accounts and pay himself a reasonable investment advisory fee. Instead, Ventrilla allegedly misappropriated a significant amount of their funds to support his lifestyle and lied to the clients about their purported portfolio holdings.
Investors in Cygnus Capital Management LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Cygnus Capital Management LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses with Cygnus Capital Management LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.