Jeffrey Arsenault Misappropriated Client Funds
MDF Law is investigating customer complaints against Jeffrey Arsenault, Old Greenwich Capital Advisors, LLC and OGCP Management Co, LLC. If you lost money investing with any of the foregoing, call 800-767-8040 for a free and confidential consultation with one of our investment fraud attorneys.
The Securities and Exchange Commission (SEC) has filed charges against Jeffrey Arsenault from Greenwich, Connecticut, along with two investment advisory firms he controls, Old Greenwich Capital Advisors, LLC and OGCP Management Co, LLC. The SEC’s complaint accuses the defendants of orchestrating a fraudulent scheme to misappropriate at least $4.1 million from two private funds they managed, ultimately defrauding the investors in those funds.
According to the complaint, which was filed in the U.S. District Court for the District of Connecticut, from October 2014 to the present, Jeffrey Arsenault and his co-defendants misused the funds’ assets to cover Arsenault’s personal expenses and make unauthorized payments for their own benefit. The complaint also alleges that the defendants concealed their actions by falsely inflating the value of the funds in investor account statements and tax filings, even going so far as to falsely claim that one fund held significant investments in another fund they controlled, even after the latter fund had stopped operating.