March 31, 2017-Tampa, Florida
The U.S. Attorney”s Office for the Middle District of Florida announced that Steven Zoernack, 55, of Sarasota, Florida, pleaded guilty to conspiring to commit wire fraud in connection with a hedge fund scheme involving EquityStar Capital Management LLC, Petroleum Black Energy Fund, the Global Partners Fund, and the Momentum Growth Fund.
According to the press release, Zoernack and his co-conspirators marketed the investments to accredited investors across the United States and Canada and raised more than $6 million.
He faces a maximum penalty of five years in federal prison, a $250,000 fine and restitution to victims of $2.8 million.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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