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

Berger Montague PC Investigates Alleged Ponzi Scheme

On August 26, 2025, the notable plaintiffs' law firm Berger Montague PC announced an investigation into possible securities violations, breaches of fiduciary duty, and other claims involving key figures and entities such as Ryan Wear, Water Station Management LLC, Creative Technologies, Inc., and Jordan Chirico. This inquiry arises amid serious allegations of a Ponzi scheme that purportedly conducted unlawful fundraising exceeding $275 million.

Background of the Investigation

The firm aims to gather information from individuals who purchased investment contracts or made financial contributions to Honey, Water Station, Creative, or Chirico. With growing concerns about the safety of these investments, Berger Montague seeks to protect investor rights and interests through potential litigation. Individuals with questions are encouraged to reach out directly via listed contacts or through their website.

Legal Actions Taken

The Securities and Exchange Commission (SEC) has already filed a lawsuit against Wear, Water Station, and Creative in the U.S. District Court for the Southern District of New York, citing violations of the federal securities laws stemming from the alleged Ponzi scheme orchestrated by Wear. This scheme reportedly impacted more than 250 unsuspecting investors.

Additionally, Jordan Chirico faces separate legal challenges from the SEC for breaches of fiduciary duties owed to an institutional client, which further complicates the legal standing of all parties involved. On the same day as the SEC's actions, the U.S. Attorney's Office for the Southern District of New York announced criminal charges against both Wear and Chirico, escalating the severity of the situation and repercussions forth.

About Berger Montague

Founded in 1970, Berger Montague has a long-standing reputation as a pioneer in litigation involving aggrieved investors. With offices across Philadelphia, Minneapolis, and several other locations, the firm has devoted decades to representing individuals and institutions dissatisfied with their investments due to securities fraud and Ponzi schemes. Berger Montague continues to serve as lead counsel in numerous courts throughout the United States.

Gerard Abramowitz and Caitlin Adorni of Berger Montague are leading the investigation efforts, emphasizing their commitment to protecting the rights of investors who may have been misled or defrauded. Individuals affected by these alleged violations, or those seeking to understand their rights, are strongly advised to reach out to Berger Montague.

As this investigation unfolds, Berger Montague is dedicated to ensuring that justice prevails for all parties affected by this alleged fraudulent activity. It remains to be seen how the legal proceedings will evolve, but the firm is prepared to advocate firmly on behalf of those who have been wronged.