Investor Fraud Alert – Berger Montague Investigates Ponzi Scheme by Investment Advisor Brenda A. Smith and Broad Reach Capital, LP; Broad Reach Partners, LLC; and Bristol Advisors, LLC
August 28, 2019. PHILADELPHIA — Berger Montague is investigating alleged wrongdoing by investment advisor Brenda A. Smith and entities owned or controlled by Smith; specifically, Broad Reach Capital, LP; Broad Reach Partners, LLC; and Bristol Advisors, LLC.
On August 27, 2019, the United States Securities and Exchange Commission filed a lawsuit against Brenda Smith and the entities she controls, alleging investment advisory fraud and other violations of the federal securities laws. Securities and Exchange Commission v. Smith, Case 2:19-cv-17213-MCA-LDW (D. N.J.). The SEC’s complaint asserts that Smith solicited over $100 million from investors for purported sophisticated trading strategies but, instead, Smith misused the funds to pay back other investors, claiming extraordinary returns, and for personal use. When confronted by at least one investor in 2019 who tried to redeem funds, Smith created a fictitious valuation of assets by falsely claiming that she held billions of dollars in assets through another company she owned.
If you invested with Brenda A. Smith, who operated the alleged Ponzi scheme from an office in West Conshohocken, Pennsylvania, or any of the other defendants, please contact Berger Montague’s investigating attorneys, Michael Dell’Angelo and Barbara Podell, at 800-424-6690, 215-875-3080 or 215-875-4690, or via email at email@example.com and firstname.lastname@example.org.
Berger Montague is a nationally recognized, full-service plaintiffs’ class action law firm specializing in securities, antitrust and other complex litigation on behalf of institutional and individual investors. With nearly 50 years of experience and numerous record-setting recoveries, Berger Montague is one of the most highly regarded plaintiffs’ litigation firms in the country. For more information, please visit our website at www.bergermontague.com.