#USA #Philadelphia #Securities Law #Berger Montague #Ponzi scheme

Berger Montague PC Investigates Ponzi Scheme Allegations

In a troubling turn of events, Berger Montague PC, a leading national plaintiffs' law firm, has initiated an investigation into serious allegations involving securities violations and breaches of fiduciary duty connected to a purported Ponzi scheme. This investigation targets several key players including Ryan Wear, Water Station Management LLC, Creative Technologies, Inc., and Jordan Chirico, all of whom are accused of unlawfully raising more than $275 million from unsuspecting investors.

The Allegations

Documents revealed that on August 14, 2025, the Securities and Exchange Commission (SEC) filed a lawsuit against Wear, Water Station, and Creative Technologies in the U.S. District Court for the Southern District of New York. The lawsuit claims that these entities were instrumental in operating a Ponzi scheme, affecting over 250 investors. Throughout this operation, funds from new investors were allegedly used to pay returns to earlier investors, creating a facade of legitimacy that ultimately unraveled.

In addition to these claims, the SEC also filed separate allegations against Chirico, who is accused of violating fiduciary duties to an institutional client—compounding the seriousness of the situation.

The U.S. Attorney's Office for the Southern District of New York has not remained idle either. On the same day as the SEC's announcement, criminal charges were brought against both Wear and Chirico, marking a significant escalation in the enforcement action against individuals implicated in the scheme.

Who to Contact

Investors who have participated in investment contracts or notes issued by any of the aforementioned parties are encouraged to reach out to Berger Montague for further information regarding their rights and interests. The firm urges anyone who may have fallen victim to this alleged Ponzi scheme to contact them directly. Andrew Abramowitz, Senior Counsel at Berger Montague, can be reached via phone at (215) 875-3015, or via email at [email protected]. Additionally, Caitlin Adorni, the Director of Portfolio and Institutional Client Monitoring Services, is available at (267) 764-4865 or at [email protected].

About Berger Montague

With a rich history dating back to 1970, Berger Montague has established itself as a pioneer in litigation representing aggrieved investors across the United States. The law firm boasts a presence with offices in major cities—including Philadelphia, Minneapolis, Washington D.C., and Toronto—and has built a reputation over decades for its robust advocacy in securities fraud cases and complex legal claims related to Ponzi schemes. The commitment to protecting the interests of individual and institutional investors remains a cornerstone of the firm’s mission.

The current investigation comes at a critical time as it not only reflects the vigilance needed in maintaining securities laws but also highlights the importance of compliance and ethical standards within financial entities. Berger Montague’s proactive approach in this regard aims to hold accountable those who contravene investor trust and legal mandates.

If you have been affected by these allegations or have invested with any of the implicated parties, it is crucial to seek advice immediately and explore your potential claims through this professional legal avenue. The protection of investors is paramount, and with the experience of Berger Montague at your side, you may find the guidance you need to navigate this complex legal landscape.