Corporate & Securities Law

The attorneys at Eccleston Law have launched an investigation into Vance Moore II of Raleigh, North Carolina, who recently pled guilty in Federal court to nine counts of wire fraud and one count of conspiracy to commit wire fraud for his role in operating an $80 million Ponzi scheme involving fraudulent investments in Automated Teller Machines (?ATMs?). 

According to court filings, from 2005 through 2008, Moore?s and his co-defendant Walter Netschi, allegedly raised more than $80 million by soliciting investors to invest in ATM machines that were purportedly placed in various retail stores around the country.  Moore and Netschi claimed that the ATMs would generate revenue streams for the investors based on the fees charged for transactions.  At one point, Moore and Netschi even told investors that they had purchased over 4,000 ATMs.  Contrary to these representations, Moore and Netsche failed to use the investor?s money to purchase ATM machines.  Instead, the defendants used most of the investor money to further the Ponzi scheme and to support their extravagant lifestyle.

Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud. Our attorneys also help victims of Ponzi schemes pursue recovery by submitting claims with receiverships established by the SEC or by performing the necessary legal work associated with the filing of a Theft Loss Tax Deduction with the IRS.

If you are an investor that has suffered losses investing with Vance Moore II, Walter Netschi or one of their affiliated companies, or if you have any information about this Ponzi, please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your recovery options.