Investments in First Nationle Solutions, Percipience Global Corp., and United RL Capital Services

August 2019: The claims against one of the defendants (Siwik) were voluntarily dismissed.

January 2019: Plaintiffs filed a class-action lawsuit in a New York court similarly alleging that the defendants operate a Ponzi scheme in which they promote lucrative investments in financial services, insurance, real estate development, and medical laboratories when, according to plaintiffs, the money invested was used to pay off earlier investors and to cover a “jet-setting lifestyle” and personal expenses. (Heinert et al v. Bank of America, N.A. et al, Case No. 19-cv-6081, W. D. NY.)

December 2018: This Florida case was voluntarily dismissed without prejudice, the reasons for which have not been disclosed.

June 2018: The alleged victims of a Ponzi Scheme filed a class-action lawsuit against the orchestrators of the scheme who offered investments in various companies, including First Nationle Solutions, Percipience Global Corp., and United RL Capital Services. Among other things, plaintiffs claim that the companies’ fraudulent marketing materials represented that the money invested would be used to invest in financial services, insurance, real estate development, and medical laboratories when, according to the complaint, the money invested was used to pay off earlier investors and for the “jet-setting lifestyle” of the orchestrators, including their homes, cars, and other personal expenses. Plaintiffs also claim that the companies misrepresented that investors would see specific returns on their investments when, according to the complaint, many investors never received a return on their investment. (Heinert et al v. Bank of America, N.A., Santillo, Parris, Larocco, Piccarreto, and Brenner, Case No. 18-cv-324, M. D. FL.)

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When a complaint is dismissed without prejudice, an amended version of the complaint can be refiled.

A fraudulent investment operation that tricks investors into thinking that they will earn lots of money on a short-term investment, when, in reality, there isn’t any investment opportunity at all. Rather, the promoter just uses the money from new recruits to pay off the older investors. In other words, stealing from Peter to give to Paul.

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