Ponzi Scheme Emerges from within Sarris Financial Group

Reno, NV Attorney serving Nevada & California

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Major allegations have been made in the last couple weeks against the Sarris Financial Group, accusing the Philadelphia-based company of being directly involved with a large-scale Ponzi scheme that inappropriately handled as much as $30 million of its investors’ money.

The U.S. Securities and Exchange Commission (SEC) is currently investigating the case, and has determined that Emmanuel L. Sarris Sr. and his company may have misled over 70 clients through encouragement to invest in the “Kenzie Funds.”  Supposedly, these were private funds meant to be invested in foreign currency; however, this was not the case, and in total the Ponzi scheme lost over $105 million in its clients’ investment funds.

It appears that the Sarris Financial Group failed to monitor the Kenzie Funds’ financial activities, that it lied about witnessing its foreign trading activity, and that it was dishonest about the fact that the company was secretly benefitting financially from the funds as well.  This dishonesty led investors to put financial faith and trust in an organization that was using their money for its own good behind the investors’ backs.

If you were a victim of this incident, or feel that you may have been financially harmed in a similar situation, contacting an experienced attorney may be the best next step to take.  Securities and Stock Fraud Attorney Thomas C. Bradley can provide you with this necessary assistance.  Contact his office today for your free confidential consultation.

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