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Las Vegas Doctor Loses Life Savings in Fraudulent Investment Scheme

LAS VEGAS — A Las Vegas doctor lost her $750,000 retirement fund after being misled to invest the money in her investment adviser’s personal business venture, according to court documents.

Anthony Depasquale III, 44, of Southlake Texas, was recently indicted on charges of security fraud, investment adviser fraud, theft, and forgery for a case that started in 2017.

Despasquale, who has entered a not-guilty plea, is accused of getting the doctor to invest her money into Big Whiskey’s, a franchised restaurant that would be located in Town Square shopping center. The indictment says Depasquale told her, he already had five other investors who each invested $750,000, which was not true. The indictment adds that Depasquale “falsely represented” that the investment had little to no risks and failed to reveal he had been denied a small business loan to open the restaurant.

“This individual was a licensed investment adviser who allegedly defrauded a Nevada physician out of her life savings. The victim worked nonstop helping sick patients and will now have to work much longer to recoup the stolen funds,” said Nevada Secretary of State Francisco Aguilar.

Depasquale has since lost his license. He is scheduled to go to trial on March 24, 2024.

Aguilar advises Nevadans to be on the lookout for any red flags related to potential investment opportunities.

Source : 8 News Now

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