Five of six
The scheme centered around a company called Social Voucher, formed in 2013 by co-defendants
Parker, as the CEO of Social Voucher, hired Geraci in 2013 as a salesperson to solicit investments. Geraci owned and operated Pinnacle Atlantic, a call center used to fraudulently sell stock in Social Voucher, court records say.
Parker also hired co-defendants
Of the investor money Geraci raised through his call center, Parker paid him a 50 percent kickback, court records say. Geraci then paid Romeo portions of the kickbacks and commissions from Parker.
Geraci admitted to paying Romeo in cash to sell Social Voucher stock, despite knowing Romeo had a civil judgment against him that alleged he fraudulently solicited investors before, according to prosecutors.
Romeo, Parker, Assenza and the Vandiviers all had fraud actions against them before and had been ordered to pay victims of their past schemes, court records say.
The Social Voucher stock was not registered with federal or state regulators, a fact Geraci also admitted to knowing. Cease-and-desist orders in four states, including
Prosecutors said Geraci was recorded pitching Social Voucher stock to an undercover FBI agent who pretended to be a potential investor. In the recording, Geraci said the investment would be “all for programming and software and so and so.”
The FBI agent gave
The FBI searched Social Vouchers
Assenza pleaded guilty and was sentenced to 52 months in prison last week. Romeo, who worked for Geraci, will be sentenced later this month, prosecutors said.
©2022 South Florida Sun-Sentinel. Visit sun-sentinel.com. Distributed by Tribune Content Agency, LLC.