FORT LAUDERDALE, Fla., Dec. 16, 2011 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., representing defrauded investors nationwide and headed by former SEC Prosecutor, David R. Chase, announces that it is investigating potential arbitration claims against certain of the securities brokerage firms with which Robert H. Van Zandt was associated during the time he engaged in the sale of unregistered promissory notes guaranteeing returns up to 12% annually.
The New York Attorney General's Office has already filed suit alleging that Van Zandt engaged in a Ponzi scheme in which he "raised money from new investors to pay old investors." Van Zandt also allegedly misappropriated investor funds to pay personal expenses and gambling trips. It is believed that Robert Van Zandt raised over $20 million from hundreds of investors.
While engaged in the alleged Ponzi scheme, Van Zandt worked for several FINRA registered securities brokerage firms, including Metlife Securities, Inc., which, under the securities laws, had an obligation to reasonably supervise his activities. If these brokerage firms failed to do so, they may be liable for investor losses.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors nationwide -- including New York -- in cases against the major Wall Street Firms. Mr. Chase has previously represented numerous victims of Ponzi schemes in arbitration claims against securities firms. For more information about holding brokerage firms responsible for Ponzi scheme losses, please visit my website at: www.stockfraudlawyer.net under "Practice Areas/Ponzi Schemes."
The Firm's principal, David R. Chase, has been practicing for almost two decades, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a SEC Prosecutor for the Federal Government.
If you or a family member suffered losses with Robert H. Van Zandt and wish to discuss your legal rights on a confidential basis, or you have information about this matter, I would like to hear from you: