Former chief compliance officer William Michael Quigley is facing both civil and criminal charges for a decade-long investment scheme that diverted $800,000 of investor's money to accounts for his and his brother's personal use. After convincing foreign investors to invest in high-profile US companies such as Berkshire Hathaway and Dell, Inc., Quigley would funnel the money to his two brothers in the Philippines, who would then send the investors fake account statements.
Trident Partners Ltd., located in Westbury, NY fired Mr. Quigley in September 2014 after they discovered the theft and has been cooperating with the SEC and the FBI in the investigation. The two-count indictment, handed down in Brooklyn federal court on May 28, 2015, charges Quigley with conspiracy to commit wire fraud and money laundering in connection with a fraudulent investment scheme. He faces a maximum 20-year prison sentence.