Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with CRL Management LLC and Charles R. Langston III. Langston, a hedge fund manager, conducts business with Miami-based CRL Management. In October, a lawsuit was filed against both he and the firm, alleging fraudulent solicitation of more than $14 million in investor funds.
Allegedly, Langston made material misrepresentations about the nature of the fees, commissions and/or investments. Furthermore, he allegedly claimed that he would invest several million dollars of personal funds in an investment vehicle. According to the claim, CRL Management and Langston misrepresented an investment vehicle they were promoting. In addition, it was allegedly not registered with the Securities and Exchange Commission.
Securities arbitration lawyers say that as a result of the actions of CRL Management and Langston, one investor lost more than $3.5 million. In addition, it cost the investor more than $1 million in commissions and fees. Furthermore, a recent arbitration award from the Financial Industry Regulatory Authority ordered CRL Management to pay $1,312,949.31 for breach of contract.