Jeffrey Slothower, Wire Fraud, Investment Adviser Fraud, Money Laundering, New York 2024

A high-stakes scheme to siphon funds from clients has led to the arrest of Jeffrey Slothower, a former registered investment adviser and founder of Battery Private, Inc.

According to the indictment, Slothower repeatedly lied to his clients about putting their money into legitimate investments when, in reality, he stole their money to fund his lavish lifestyle.

As alleged, Slothower solicited business from Victim-1 and Victim-2, a couple from California, promising them he could beat any rate of return they were receiving without market risk.

Victim-1 agreed to invest money with Slothower through Battery Private, with Slothower sending wiring instructions and claiming that Victim-1’s money would be held in the ‘capital reserves’ of the firm. However, that money was not invested in the purported HOA Bonds or held in ‘capital reserves’ as represented by Slothower.

Between January 25, 2017, and January 27, 2017, Victim-1 sent more than $500,000 to Slothower at Battery Private to be invested in the purported HOA Bonds. However, that money was used by Slothower to wire money to himself, purchase a luxury automobile, and pay fees for a private golf club on Long Island.

Slothower faces charges of wire fraud, investment adviser fraud, and money laundering in connection with the scheme to misappropriate more than $1 million from current and prospective clients.

Defendant: Jeffrey Slothower, founder and operator of Battery Private, Inc.

Criminal Charges: Wire fraud, investment adviser fraud, and money laundering.

City and State: Southampton, New York.

Exact Date: January 25, 2017 – January 27, 2017.

Sentence or Outcome: Currently awaiting trial.

Dollar Amounts: More than $500,000 was sent by Victim-1 to Slothower at Battery Private to be invested in the purported HOA Bonds. The total amount misappropriated by Slothower is over $1 million.

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