N.Y. investment firm boss accused of skinning investors

The president of an Albany investment firm is accused of selling fraudulent securities to investors across the country.
FEB 18, 2010
The president of an Albany investment firm is accused of selling fraudulent securities to investors across the country. Christopher Bass appeared before U.S. Magistrate Judge David Homer on a felony charge of securities fraud on Monday and was held for a bail hearing Wednesday. The complaint says the scheme involved more than 200 clients who invested more than $5.5 million through Bass under the business names Revisco Finanz and Swiss Capital Harbor beginning in January 2007. The money was to be sent to Europe for power plants and other investments, but court papers say less than half was used as promised and the rest went for Bass' personal expenses or to repay other investors. Bass' lawyer, Alexander Perry, didn't immediately return a call seeking comment.

Latest News

Carnegie Investment Counsel sued over valuation suppression
Carnegie Investment Counsel sued over valuation suppression

Retiring RIA seller David Laidlaw alleges the Carnegie valued his stake on $11.7 million EBITA while pitching potential buyers on $21.3 million.

Arch pushes AI portfolio monitoring into pre-investment due diligence
Arch pushes AI portfolio monitoring into pre-investment due diligence

New tool gives RIAs and family offices AI help vetting private market deals, with some users reportedly halving review time.

$4.5M raised on trust alone: SEC alleges affinity fraud in merchant lending
$4.5M raised on trust alone: SEC alleges affinity fraud in merchant lending

Investors got projected returns dressed up as real ones, SEC says

Treasury sets auto-enrollment rules for Trump Accounts, potentially adding 60 million more children
Treasury sets auto-enrollment rules for Trump Accounts, potentially adding 60 million more children

Parents must still act to get the $1,000 federal seed and employer contributions, giving financial advisors a role in the rollout.

FINRA bars former LPL broker for stealing $1.7 million from customers
FINRA bars former LPL broker for stealing $1.7 million from customers

FINRA booted Rudy Anguiano from the industry for “conversion - the intentional and unauthorized taking of another person’s property.”

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains