Investors who have suffered losses investing with Robert Van Zandt, Kimmarie Van Zandt, and Van Zandt Agency may be able to recover their losses through FINRA arbitration.
According to the New York Attorney General, Robert Van Zandt was allegedly running a Ponzi scheme through the Van Zandt Agency that defrauded more than 100 investors. Through the Van Zandt Agency, Robert H. Van Zandt is believed to have sold unregistered promissory notes that appeared to be a secured real estate investment. Van Zandt allegedly lured investors into the Ponzi scheme by guaranteeing returns of up to 12% on these promissory notes. Through a series of shell corporations such as Burke and Grace Avenue Corporation, Van Zandt allegedly operating this Ponzi scheme targeting residents of Bronx, New York. Robert H. Van Sandt is believed to have targeted the investors who had their tax returns prepared at the Van Sandt Agency.
On September 6, 2011, while under investigation by the New York Attorney General’s office since April, along with his father Robert Henry Van Zandt and wife Kimmarie Gervasi Van Zandt, Robert Van Sandt was found dead in his home as a result of a gunshot wound to the head.
The New York Attorney General believes that the Ponzi scheme began when the real estate market collapsed around 2008, which left Robert Van Zandt unable to pay investors the returns they had promised. As a result, Robert Van Zandt decided to raise money from investors, using the funds of the new investors to repay the old investors. However, during the course of running the Ponzi scheme the Attorney General believes that the Robert Van Zandt may have misappropriated investors funds to pay personal expenses and gambling debts, including trips to Las Vegas.
Investors are believed to have lost most, if not all of their money in the Van Zandt Ponzi scheme. However, such investors may be able to recover their losses through securities arbitration.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered losses investing with Robert Van Zandt, Kimmarie Gervasi Van Zandt, or with the Van Zandt agency, please contact one of our attorneys at 312-332-0000 for a FREE, NO OBLIGATION to discuss your recovery options.