Who Is Ralph Willard Savoie? | Ralph Willard Savoie Lawsuit
Ralph Willard Savoie defrauded investors for more than three years beginning in 2013, telling his clients that he would invest their money in securities and insurance, and to develop industrial cooling towers, according to court documents. Savoie guaranteed high rates of return to his clients, describing the investment opportunities as a "sure thing."
Instead, Savoie spent clients' money on jewelry, hotels, restaurants, personal credit card bills, car payments and rent. He also used investors' money on "a risky real estate venture" and to pay off clients who had previously invested their money with him, according to federal court documents.
During the timespan of Savoie's scheme, he was "associated with" multiple brokerage firms, including Fairfield, Iowa-based brokerage firm, Cambridge Investment Research Inc.
Cambridge, with which Savoie was associated from roughly July 2013 until August 2015, is mentioned a number of times in court filings, which describe how Savoie used his association with the firm to convince victims to invest with him and, once clients began questioning their investments, to "lull them into believing he was a reputable and trustworthy financial professional who had indeed invested their money as promised."
Were You a Victim of Investment Fraud or Broker Misconduct?
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf Carr Kane & Conway has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Broker Ralph Willard Savoie| Ralph Willard Savoie Lawsuit
According to Ralph Willard Savoie's BrokerCheck report, consented to the sanction and to the entry of findings that he refused to respond to FINRA requests for information and documents during the course of an investigation into allegations that Savoie misappropriated more than $665,000 from at least one member firm customer.
One of the Customer Disputes alleges that representative invested $82,142 into an unregistered security named JENCO Steel, LLC in 2009. The claim alleges violations of securities laws, breach of contract, violations of Louisiana securities law, common law fraud, breach of fiduciary duty, and gross negligence.
Based on our experience, we believe that there are more investors who have been the victim of broker misconduct or investment fraud. If you've worked with or invested with Ralph Willard Savoie, you should Contact Peiffer Wolf immediately for a FREE Consultation.
Peiffer Wolf is currently investigating Ralph Willard Savoie's practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
Concerns About Misconduct Or Fraud?
Peiffer Wolf has represented thousands of victims of investment fraud, against both brokers and financial institutions that failed to adequately perform their duties and protect the investing public. Broker misconduct or investment fraud can take many forms. Some are easy to detect, and others require careful investigation and analysis. We represent investors who have been victim to broker misconduct or other fraudulent investment activities.
FREE Consultation | 585-310-5140
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.