PHILADELPHIA, PA / ACCESS Newswire / October 3, 2025 / Investors in Prestige Funds and WF Velocity Funds (together, "Prestige Funds"), an alleged Ponzi scheme that offered ATM machines to investors, may have options to seek compensation for their investments from third-party entities that played a role in promoting, enabling, and/or assisting the alleged Prestige Funds fraud, according to veteran investor advocates Alan Rosca and Paul Scarlato with the Rosca Scarlato LLC law firm.
Attorneys Rosca and Scarlato are currently investigating the allegedly fraudulent investment offerings in the Prestige Funds following a lawsuit filed by the Securities and Exchange Commission ("SEC") on September 3, 2025, charging Daryl F. Heller, Paramount Management Group, LLC, and Prestige Investment Group, LLC with operating a multi-year Ponzi scheme that raised more than $770 million from approximately 2,700 investors, resulting in over $400 million in losses.
According to the SEC, from at least 2017 through early 2024, Daryl Heller and his affiliated companies claimed to run a large, successful nationwide ATM network, promising investors, many from the Amish and Mennonite communities in Lancaster, Pennsylvania, approximately 25% returns paid monthly from ATM fees. Unbeknownst to investors, the ATM network was much smaller and less profitable than represented, and distributions to investors were mainly funded by new investments and short-term high-interest loans, the SEC alleged.
Heller, Paramount Management Group and Prestige Investment Group stand accused of inflating returns, making false and misleading statements, misappropriating at least $185 million of investor funds, and other violations.
Separately, Daryl Heller faces one count of securities fraud and four counts of wire fraud, according to a release by the U.S. Attorney’s Office for the Eastern District of Pennsylvania announcing Heller’s arrest. Both civil and criminal actions are currently pending.
What Can Prestige Funds Investors Do?
Investors in the Prestige Funds may have options to seek compensation for their investments, in addition to, and separately from, the SEC’s claims against Daryl Heller and his companies. If you are an investor in the Prestige Funds series or possess relevant information, the Rosca Scarlato investor rights attorneys Alan Rosca and Paul Scarlato encourage you to contact them. Fill out the form on Prestige Funds Investor Center page, call 888-998-0530, or email attorney Alan Rosca at arosca@rscounsel.law or Paul Scarlato at pscarlato@rscounsel.law.
Rosca Scarlato LLC is 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 Rosca Scarlato attorneys have decades of combined experience representing investors in cases involving fraud or other financial misconduct. They 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.
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
COMTEX_469249736/2457/2025-10-03T14:45:11