William Bucci and Financial Network Investment Corp: How To Recoup Losses

AdobeStock_50775754-2-300x200Stoltmann Law Offices is investigating William Bucci, who is being investigated by the Securities and Exchange Commission (SEC). The former Financial Network Investment Corp broker pled guilty to securities fraud, mail fraud and mortgage fraud last June in Philadelphia, Pennsylvania. The SEC has since filed an administrative order in order to bar him from the industry on Wednesday. Allegedly, Mr. Bucci took more than $3.2 million from clients, promising a 10% return rate. He told the clients their money would be used to start a business to import olive oil and wine from Italy. According to the federal indictment, no such business existed and he used the funds for himself. He also allegedly filed false tax returns from 2007 until 2011. He solicited loans from friends and told them he would be able to repay the loans, which he never did. Bucci’s former firm, Financial Network, had a duty to reasonably supervise him while he was registered there. Because it did not, it may be liable for investment losses. Please call us today at 312-332-4200 to find out how to recover your investment losses on a contingency fee basis. There is a statute of limitations on most cases.

William Daniel Bucci was previously registered with Smith Barney, Lehman Brothers, Prudential Securities, Legg Mason Wood Walker, Gruntal & Co., Ryan Beck & Co., Oppenheimer & Co. and Financial Network in King of Prussia, Pennsylvania from August 2011 until May 2012. He has six customer disputes against him, one of which is currently pending. He has one criminal charge pending against him. He has been permanently barred from the industry, according to his Financial Industry Regulatory Authority (FINRA) public records and BrokerCheck report.

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