February 26, 2018

Dedicated Sound and Audio, Inc., Steven Ventre, Choice Equity, Eric Lovy

Offering Fraud


Defendants: Dedicated Sound and Audio, Inc., Choice Equity
Steven Ventre, Eric Lovy

As alleged, Choice Equity was a telemarketer controlled by recidivist Lovy, retained to solicit investors on DSA's behalf. The investors in the unregistered offering were falsely told in a private placement memorandum drafted by Ventre and Lovy that DSA would pay no more than 15% of the amount raised in sales commissions to registered broker-dealers. In reality, DSA paid more than 33% of the amount raised to Choice Equity and Lovy. All Defendants settled the charges.

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