John Schemetti, an insurance agent operating in Virginia Beach, VA and Las Vegas Nevada was hit with three civil judgments totaling $1,673,000 in Clark County, NV District Court in August, 2015.
The judgments stem from John Schemetti’s role in an investment scam known as Velcor LLC. Schemetti was an officer for Velcor, and along with his partner, Reza Baharimehr, raised money from Nevada investors.
Velcor LLC, purportedly owned an interest in an Ecuadorian cocoa plantation, and also purchased life settlement contracts. Schemetti and Baharimehr targeted elderly people with promises of large returns from the Velcor investment. Two of the victims were elderly widows who invested a substantial portion of their life savings into Velcor in what were totally unsuitable transactions.
Schemetti and Baharimehr promised to repay the victims, and entered into written settlement agreements. However, they defaulted on their obligations, and in August, 2015 judgments in three separate cases totaling $1,673,000 were entered against John Schemetti and Reza Baharimehr.
The Law Office of David Liebrader is currently investigating whether John Schemetti has returned to Las Vegas to sell unregistered securities to elderly investors.
If you are the victim of investment fraud, or if you have information on the whereabouts of John Schemetti please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.