Regulators and United Planners allege the use of fictious account statements to promote the investment.

NEW YORK, NEW YORK, USA, June 26, 2023/EINPresswire.com/ -- MDF Law, PLLC, a national investment fraud law firm, announces an investigation into a fictitious investment fund allegedly recommended by Phil Riposo known as Zurich Kemper Investments. On April 18, 2022, the Financial Industry Regulatory Authority barred former Massachusetts broker, Phil Riposo, after Mr. Risposo admitted to creating and providing clients with fictitious account statements. The order barring Mr. Risposo is FINRA AWC Number 2022074280901. The information contained in this press release is based on this AWC together with Phil Riposo’s public securities license, which can be accessed through FINRA BrokerCheck. Mr. Riposo’s CRD, or license number, is 400056.

If you invested in Zurich Kemper Investments or any other suspicious investment through Mr. Riposo, you may be able to recover money damages from the broker-dealer firms that employed him. He was employed through United Planners Financial Services from December 2015 through March 2022. United Planners terminated Risposo and placed the following disclosure on his license on March 3, 2022, “United Planners prohibits Financial Professionals from creating and distributing fictitious statements to clients. Mr. Riposo was found and admitted to creating and providing clients with fictitious statements from Zurich Kemper Investments. Additionally, United Planners does not allow Financial Professionals to receive checks from clients made payable to their Doing-Business-As (DBA) name. Mr. Riposo was found and admitted to receiving and depositing checks from clients made out to Riposo Asset Management (his DBA) that were used for personal expenses.”

Lawsuits against broker-dealers are adjudicated through binding arbitration before the Financial Industry Regulatory Authority, or FINRA. FINRA arbitration is a dispute resolution mechanism specifically designed for resolving conflicts between investors and brokerage firms or individual brokers. It provides an alternative to traditional court litigation and is governed by the rules and procedures established by the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization overseeing the securities industry in the United States.

MDF Law is interested in speaking with anyone who invested in Zurich Kemper Investments through Phil Riposo. If you were impacted, please call 800-767-8040 for a free and confidential case evaluation.

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MDF Law PLLC is responsible for the contents of this release. The law firm's address is 28 Liberty Street, 30th Floor, New York, New York 10005. The phone number is 800-767-8040.

Marc Fitapelli
MDF Law
+1 212-203-9300
email us here

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