PHILADELPHIA, PA / ACCESS Newswire / August 22, 2025 / Investors in the 3|5|2 Capital ABS Master Fund LP ("352 Fund") may have options to seek compensation in connection with their investments, according to investor rights lawyers at Rosca Scarlato LLC, a leading nationwide investor rights law firm that prosecutes cases arising out of alleged violations of securities law, investment fraud, and/or Ponzi schemes. The firm is currently evaluating potential claims for compensation for investors in the 352 Fund formerly managed by Jordan Chirico, in connection with the Fund’s investment in notes issued by Water Station Management LLC ("Water Station"), described in recent court filings by federal prosecutors as a "Ponzi scheme masquerading as a water machine company."
Jordan Chirico, Former Jefferies Fund Manager, Stands Accused of Fraud and Breach of Fiduciary Duty
Jordan Chirico, a portfolio manager formerly affiliated with Jefferies Financial Group’s Leucadia Asset Management LLC, allegedly engaged in investment adviser fraud, securities fraud and breach of fiduciary duty while serving as portfolio manager for the 352 Fund, according to a federal indictment dated August 13, 2025, and related civil action filed by the U.S. Securities and Exchange Commission (SEC) on August 14, 2025.
Chirico allegedly defrauded the fund and its investors by directing over $92 million in investments into bonds issued by Water Station, a company allegedly operating as a Ponzi scheme that raised more than $275 million from investors, according to the SEC.
Jordan Chirico allegedly directed the investments in Water Station Notes while concealing his personal financial interests in the company and failed to act in the Fund’s best interests after becoming aware of red flags indicating potential fraud at Water Station, according to the SEC complaint. Separately, Chirico faces one count of investment adviser fraud and one count of securities fraud. Both actions are currently pending.
To learn more or to request a free case evaluation visit the 352 Capital ABS Master Fund Investor Alert page.
Free Case Evaluation for 352 Fund Investors
Investor rights attorneys Alan Rosca and Paul Scarlato are evaluating claims for compensation on behalf of investors in the 352 Fund who believe they may have suffered losses as a result of Jordan Chirico‘s alleged breach of fiduciary duty and fraud in connection with the Fund’s investment in Water Station Notes. 352 Fund investors interested to learn more about their options or assist the Rosca Scarlato attorneys’ investigation, as well as any individuals with knowledge of the facts surrounding the 352 Fund‘s investments in Water Station, may contact attorneys Alan Rosca or Paul Scarlato. They have decades of combined experience representing investors in cases involving fraud or other financial misconduct.
The Rosca Scarlato investor rights attorneys typically work on a contingency fee basis. Case expenses are advanced by the law firm, and the firm only gets paid for its fees and expenses if and when there is a recovery, wherever permitted. All evaluations are free.
Investors may visit https://investorlawyers.org for more information about the Rosca Scarlato attorneys’ background and admissions to practice law, and contact them at 888-998-0530 (toll free) or via email at arosca@rscounsel.law or pscarlato@rscounsel.law.
This release may be deemed to include Attorney Advertising. There has not been an adjudication on the merits of any allegations referenced herein, as of the publication date. © Rosca Scarlato 2025.
SOURCE: Rosca Scarlato LLC
View the original press release on ACCESS Newswire
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