Have a Claim?

Click here for a confidential contact or call:

1-212-350-2774

February 5, 2021

Posted  February 5, 2021

Private equity fund ACP X, LP, its manager Laurence Allen, and other corporate entities owned and controlled by Allen including NYPPEX Holdings, LLC, have been ordered to pay nearly $7 million.  Allen allegedly used investor funds to pay himself and others exorbitant salaries and cover the expenses of Allen’s affiliated entities, contrary to representations to investors.  A receiver was appointed to wind down the fund.  NY

Tagged in: Financial and Investment Fraud, Misrepresentations, Ponzi Schemes,