LAS VEGAS (KTNV) — A former Henderson financial adviser is facing charges after being accused of lying to a valley doctor in order for her to invest into his personal business venture.
According to an indictment, this happened in 2017.
Between July 2017 and December 2017, 44-year-old Anthony Depasquale is accused of lying to Dr. Smita Maity and defrauding her of $750,000.
The indictment alleges he told Maity that she would be investing in a "Big Whiskey's" franchised restaurant that would be located in the Town Square shopping center.
The indictment also states Depasquale falsely represented that he already had five investors putting in $750,000 for the Town Square restaurant as well as five investors who were putting in $1,000,000 for a second restaurant that would be located in the Downtown Summerlin shopping center. However, investigators state neither one of those statements were true.
According to investigators, Depasquale also told Maity the investment had little to no risks and that he didn't tell her he had previously been denied a small business loan to open the restaurant. Officials claim if she did know, she would not have invested her money.
Depasquale formerly ran Elysien Private Wealth in Henderson, which provided investment advisement services.
"This individual was a licensed investment adviser who allegedly defrauded a Nevada physician out of her life savings," Nevada Secretary of State Francisco Aguilar said. "The victim worked nonstop helping sick patients and will now have to work much longer to recoup the stolen funds."
Depasquale is facing multiple charges including securities fraud, theft, and forgery.
Attorneys for Depasquale sent Channel 13 the following statement about the allegations.
"We're disappointed to see that the State has chosen to litigate this matter in the press in an effort to improperly poison Clark County citizens against Mr. Anthony DePasquale III before any evidence is presented. We look forward to defending Mr. DePasquale against the allegations contained in the indictment in Court, not the media."
The Secretary of State's Office is encouraging Nevadans to be aware of warning signs when investing, even with licensed investment advisers and should take the following steps.
- Check if your investment adviser's license is current online here.
- Advisers are not supposed to profit off of their clients by asking for loans or funds for personal business projects.
- Conduct research before investing in any private placement investment.
- Be wary if an adviser is pressuring you.
- Do your due diligence.
