Tuesday, March 31, 2015

Gregg C. Lorenzo and Charles Vista Disgorgement Fund Created: Over $500K In Fund

This order, which was originally issued in 2013, alleged that Gregg C. Lorenzo and Charles Vista made "fraudulent misrepresentations" to customers of Charles Vista. The scheme was aimed at convincing customers to purchase convertible debentures issued by Waste2Energy (W2E).

The Fair Fund to be distributed is comprised of disgorgement, prejudgment interest, and civil penalties. To date, Lorenzo has paid $130,000 in disgorgement, $20,000 in prejudgment interest, and a civil penalty of $375,000. The Fund Administrator will identify eligible investors within sixty days of the approval of the plan submitted by the Fund Administrator.

For more information about the details of Fair Fund's Distribution Process click here.