Zamansky LLC Investigates Individual FINRA Claims for Oppenheimer Brokerage Customers Who Invested in the Alleged Horizon Private Equity III Ponzi Scheme

NEW YORK--(BUSINESS WIRE)--Zamansky LLC announces that it is investigating Oppenheimer & Co. Inc. (OPY) on behalf of brokerage customers who were investors in the alleged Horizon Private Equity III Ponzi scheme. The law firm is investigating individual FINRA claims for Oppenheimer customers to recover losses suffered as the result of a failure to supervise, aiding and abetting, “selling away” and other wrongful acts.

On August 25, 2012, the Securities and Exchange Commission filed a complaint against Horizon Private Equity III and its founder John Wood, previously a financial advisor employed by Oppenheimer, alleging that they engaged in a Ponzi scheme involving $110 million raised from 400 investors. The SEC alleged that John Wood orchestrated a fraud by raising money from mostly elderly retirees, claiming that they would receive a fixed rate of return and return of principal. Unfortunately, the SEC alleges that Horizon never made a legitimate investment and that the money raised was used to pay earlier investors, until the fund ran out of money.

According to Jake Zamansky, investment fraud attorney, Oppenheimer brokerage customers may have individual FINRA claims for losses suffered in the Horizon Ponzi scheme. As a broker-dealer, Oppenheimer was responsible for supervising John Wood while he previously worked there to prevent his “selling away” of unauthorized investments. Oppenheimer brokerage customers may have claims for failure to supervise, aiding and abetting, “selling away” and other wrongful conduct, Zamansky states.

If you were an Oppenheimer brokerage customer who invested in the Horizon Private Equity III Fund, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email [e-mail] or call the law firm at [phone].

About Zamansky LLC

Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.