Recovering Losses caused by Investment Misconduct

27-Year-Old Man Faces 18 Counts Related to Ponzi Scheme

27-year-old Anthony J. Klatch III, of Pennsylvania and Florida, has been charged with 18 counts in what federal authorities are calling a Ponzi scheme. The government alleges that Mr. Klatch and Timothy Sullivan worked together on a Ponzi scheme that cost eight investors about $2.3 million.

According to court documents, Mr. Klatch and Mr. Sullivan founded TASK Capital Partners in 2009, but the information they provided to investors was misleading. For example, the information about TASK allegedly showed that the company existed since 1997 and listed board members who were not, in fact, members of the board.

The authorities allege that Mr. Klatch and Mr. Sullivan lost $1.3 million in botched financial deals, and that the other $1 million was never invested. It is further alleged that Mr. Klatch used the money to fund a lavish lifestyle, including two homes and at least five cars.

Mr. Klatch is currently being held on bond in a Florida jail.

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