Eleven families caught up in an elaborate Ponzi scheme by Sylvania-area investment advisers will receive $2.3 million from the company which acquired the disgraced financial advisory firm.
The families were former clients of Private Wealth Consultants, a group of investment advisers in Sylvania that received kickbacks from Northwest Capital for convincing clients to invest in companies it was creating to receive the money.
Damages from Carnegie Investment Counsel, which purchased Private Wealth Consultants, range from $67,000 to $468,000, and were based on Carnegie’s omission of information regarding the collapse of Private Wealth Consultants…