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Wednesday, April 8, 2020

Investors allege they lost millions after Pennsylvania law firm recommended they invest in Ponzi scheme

Lawsuits

By Carrie Bradon | Jun 17, 2019

Law money 06

NASHVILLE, Tenn. (Legal Newsline) – A Pennsylvania law firm and one of its partners are alleged to have convinced several Tennessee investors to invest in a Ponzi scheme.

JRS Partners GP, JRT Revocable Trust, SFT Revocable Trust, PBO 2012 Irrevocable Trust and William Patrick Ortale III filed a complaint on May 31 in the U.S. District Court for the Middle District of Tennessee against Leech Tishman Fuscaldo & Lampi LLC and Brett Mankey alleging negligent and fraudulent misrepresentation, civil conspiracy, legal malpractice and negligent retention and supervision.

The plaintiffs allege they made investments in Clean Energy Advisors on the recommendation of Mankey of Leech Tishman Fuscaldo & Lamp. They allege Mankey "vouched for the legitimacy of the Funds, their documentation, and underlying investments," the suit states.

The plaintiffs allege they have since discovered that the investment funds were entirely fictitious and they have lost millions they invested. The suit states Clean Energy Advisors was a Ponzi scheme.

The plaintiffs are seeking a trial by jury; punitive, actual and consequential damages; interest; attorneys’ fees; and other relief deemed fit. The plaintiffs are represented by John-David H. Thomas and Kevin T. Elkins of Waller, Lansden Dortch & Davis LLP in Nashville, Tennessee.

U.S. District Court for the Middle District of Tennessee case number 3:19-cv-00469

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U.S. District Court for the Middle District of Tennessee