{"id":2792,"date":"2016-03-16T00:00:00","date_gmt":"2016-03-16T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/recidivist-fraudster-edward-durante-indicted-scamming-investors-11-million-sale-vgtel\/"},"modified":"2018-10-08T12:39:40","modified_gmt":"2018-10-08T16:39:40","slug":"recidivist-fraudster-edward-durante-indicted-scamming-investors-11-million-sale-vgtel","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/recidivist-fraudster-edward-durante-indicted-scamming-investors-11-million-sale-vgtel\/","title":{"rendered":"Recidivist Fraudster Edward Durante is Indicted for Scamming Investors out of $11 Million Through the Sale of VGTel"},"content":{"rendered":"<\/p>\n

After serving 10 years in prison for prior securities law violations, investment fraud orchestrator Edward Durante is back in the news for allegations of a penny stock pump-and-dump scheme<\/a>.<\/p>\n

Durante was criminally charged in December 2015 by the U.S. Attorney\u2019s Office for the Southern District of New York and civilly charged by the Securities Exchange Commission <\/a>(the \u201cSEC\u201d) for defrauding at least 50 investors out of at least $11 million through the sale of securities of VGTel, Inc. (\u201cVGTel\u201d), a shell company Durante controlled.<\/p>\n

According to the SEC\u2019s complaint, Durante sold approximately six millions shares of VGTel stock to investors using various fictitious names to hide his criminal past, including \u201cEdward Wise,\u201d \u201cTed Wise,\u201d \u201cEfran Eisenberg,\u201d and \u201cAnthony Walsh.\u201d He solicited and enlisted the aid of Larry Werbel (CRD# 828351)<\/a> and his adviser firm Evolution Partners Wealth Management, LLC (\u201cEvolution Partners\u201d), Sheik Khan (CRD# 2448117)<\/a>, Christopher Cervino (CRD# 2778817),<\/a> Walter Reissman, and Kenneth Wise to help perpetrate the scheme, according to the complaint.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

After serving 10 years in prison for prior securities law violations, investment fraud orchestrator Edward Durante is back in the news for allegations of a penny stock pump-and-dump scheme. Durante was criminally charged in December 2015 by the U.S. Attorney\u2019s Office for the Southern District of New York and civilly charged by the Securities Exchange […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[604,580],"tags":[220],"class_list":["post-2792","post","type-post","status-publish","format-standard","hentry","category-penny-stocks","category-stockbroker-misconduct","tag-penny-stocks"],"yoast_head":"\nRecidivist Fraudster Edward Durante is Indicted for Scamming Investors out of $11 Million Through the Sale of VGTel — Securities Arbitration Lawyers Blog — March 16, 2016<\/title>\n<meta name=\"description\" content=\"If you invested in VGTel through your broker, you may be able to recover some of your investment loss. 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