May 04, 2017
William Schantz III, Verto Capital Management
SANCTION AMOUNT: $4,158,517
Defendants: Verto Capital Management
William Schantz III
Defendants allegedly resorted to fraudulent misrepresentations to raise approximately $12.5 million to purportedly fund the purchase and sale of life settlements. The issuer, Verto Capital, was allegedly presented as a profitable although it had been unprofitable for several years. Investor funds were allegedly misappropriated for Ponzi payments and personal use (over $3.4 million in the latter category).
- Key Docs
- Official SEC press release