Investment advisor Mark Lisser pleaded guilty to securities fraud conspiracy in a New York federal court.
In a press release issued by the Office of the Acting United States Attorney for the Eastern District of New York, Lisser admitted to lying to customers about investments in shares of several companies prior to the initial public offering (IPO) of those companies.
Between October 2018 and January 2019, Lisser was a partner in Knightsbridge Private Partners LLC (Knightsbridge), which operated a series of websites and call centers used to solicit investments in purported pre-IPO shares of companies.
Lisser misappropriated more than $700,000 in investors’ funds to make payments to companies controlled by Knightsbridge employees, pay salaries and sales commissions, pay his personal credit card bill, and make payments on a mortgage.
Mark J. Lesko, Acting United States Attorney for the Eastern District of New York, announced the guilty plea.
‘With today’s guilty plea, the defendant admits to personally profiting from the false representations he made to his customers about the nature of their investments in valuable pre-IPO companies,’ stated Acting U.S. Attorney Lesko.
The defendant, Mark Lisser, is 40 years old and resides in Massapequa, New York. His exact date of birth is not provided.
The case is being handled by the Office’s Business and Securities Fraud Section. Assistant United States Attorneys Mathew S. Miller and David Gopstein are in charge of the prosecution.
The defendant is currently awaiting sentencing.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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