SEC
Whistleblower
Attorneys

April 02, 2019

Robert P. DePalo, Joshua B. Gladtke, Gregg A. Lerman, Pangaea Trading Partners LLC, Arjent LLC, Arjent Limited, Excalibur Asset Management LLC

Offering Fraud

SANCTION AMOUNT: $6500000

Defendants: Pangaea Trading Partners LLC, Arjent LLC, Arjent Limited, Excalibur Asset Management LLC
Robert P. DePalo, Joshua B. Gladtke, Gregg A. Lerman

Sanction against Defendant DePalo who previously was found guilty in a parallel criminal case. He defrauded over twenty investors who purchased units in Pangaea Trading Partners LLC, a holding company that held itself out as holding indirect interests in a pair of broker-dealer entities controlled by DePalo, i.e., Arjent LLC and Arjent Ltd. He misrepresented the value of their investments and misappropriated their funds for personal use. The SEC also found that he made false statements to its examiners in an attempt to conceal the fraud.

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