#USA #New York #Berger Montague #Ponzi scheme #securities violations

Berger Montague PC Investigates Potential Securities Violations

In a significant legal development, the renowned plaintiffs' law firm, Berger Montague PC, has initiated investigations into alleged securities violations and fiduciary breaches connected to a suspected Ponzi scheme. This investigation centers on individuals Ryan Wear and Jordan Chirico, along with entities Water Station Management LLC and Creative Technologies, Inc., which are accused of unlawfully raising over $275 million from investors.

On August 14, 2025, the U.S. Securities and Exchange Commission (SEC) took a decisive step by filing lawsuits in the Southern District of New York against Wear and his companies, Water Station and Creative. The SEC's allegations detail that the scheme manipulated over 250 investors, leading to dangerous financial repercussions.

Additionally, in a separate but related case, the SEC has also targeted Chirico. The agency claims he compromised his fiduciary duties to clients, further highlighting the severity of the situation.

Moreover, following these civil allegations, law enforcement has acted; the U.S. Attorney's Office for the Southern District of New York announced criminal charges against both Wear and Chirico linked to their roles in the suspected Ponzi scheme.

Understanding the Allegations

According to the complaints, Wear established Water Station Management and Creative Technologies, managing both to execute a scheme involving fraudulent investment contracts and notes. Many of these investments promised high returns, encouraging unsuspecting individuals to invest without fully understanding the risks involved.

The underlying issue appears to revolve around a classic Ponzi scheme framework, where returns to earlier investors are paid out from the capital of newer investors rather than from profit earned by the business, creating an illusion of a profitable investment.

Impact on Investors

The ramifications of this scheme are vast, affecting more than 250 investors who allocated their funds in hopes of guaranteed returns. As investigations proceed, Berger Montague PC is encouraging those affected to come forward. The firm’s aim is to provide guidance and ensure investors are aware of their rights and possible actions against the implicated individuals and companies.

If you have invested with or purchased any investment products from Wear, Water Station, Creative Technologies, or Chirico, you might be entitled to recourse. The firm is urging concerned parties to reach out for further information about their investigations and the options available to restore their losses.

The Role of Berger Montague

Since its inception in 1970, Berger Montague has been at the forefront of protecting investor rights across varying types of financial fraud. The firm has a storied history of representing both individual and institutional investors and serves as lead counsel in numerous high-stakes cases throughout the United States.

With a presence that spans from Philadelphia to Toronto, the firm emphasizes diligence, transparency, and advocacy for clients caught in the crossfire of corporate misconduct.

Contact Information

For investors seeking clarity on their standing or wishing to discuss potential claims, Berger Montague has made resources available. Senior Counsel Andrew Abramowitz can be reached at (215) 875-3015 or via email at [email protected]. Director of Portfolio Monitoring Services, Caitlin Adorni, is also available for inquiries at (267) 764-4865 or [email protected].

In conclusion, as Berger Montague continues its investigation into these serious allegations, affected individuals are encouraged to seek expert legal advice promptly to protect their interests and pursue justice.