March 30, 2016
The U.S. Securities and Exchange Commission charged Daniel Rivera and his brother Matthew Rivera, and their company, with a $2.7 million Ponzi scheme targeting elderly and unsophisticated investors.
Investors were led to believe that they would share in the profits of Robbins Lane, a Pennsylvania real estate venture. In reality Robbins Lane had no real estate. In classic Ponzi scheme fashion money from early investors was used to pay distributions to later investors giving the impression of a going concern.
Neither admitting nor denying the charges, they consented to entry of a final judgment and will be disgorging over $2 million.
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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