December 3, 2015- Dallas, Texas
Allen, Texas resident Brian J. Polito was sentenced to 84 months in federal prison and ordered to pay $8.8 million following his May 2015 guilty plea, according to an FBI press release.
According to the release, Polito, through his company GC Resources, a Dallas based oil and gas company, defrauded investors by selling interests in projects in which GC Resources had no ownership interest. He solicited investors by making cold calls and sending out sales literature that included forged documents.
Polito used much of the money on luxury autos including a 50th anniversary Aventador Lamborghini, a Lamborghini Gallardo, several Porsche Turbos , a Ferrari, a Mercedes and a McLaren.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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