William Michael Quigley, former chief compliance officer and anti-money laundering officer at Trident Partners Ltd. has been charged with bilking investors and stealing funds from the firm. Quigley, worked as chief compliance officer and anti-money laundering officer at brokerage Trident Partners Ltd. between June 2004 and September 2005 and again between October 2007 and September 2014. He was indicted by federal prosecutors on fraud and money laundering charges.
He is accused of withdrawing the investors’ money from automated teller machines near his home in Seaford, N.Y., or sending it in wire transfers to the Philippines, where two of his brothers live, according to the SEC complaint. The brothers, Michael Quigley and Brian Quigley, were named as co-conspirators in the case.
In all, the brothers took in around $800,000 from investors, the FBI said, with more than $500,000 of that amount being transferred to accounts in the Philippines.
If convicted of the criminal charges, Quigley faces up to 20 years in prison, the FBI said.
The SEC complaint alleges Michael Quigley and Brian Quigley solicited investors to put money into various securities of blue-chip firms and start-up companies they said soon would be going public. The money that was invested was never used to buy securities, and instead was diverted to accounts set up by William Michael Quigley, the SEC alleged. The brothers provided investors with fake brokerage statements, and made numerous excuses when investors tried to get their money back, the SEC alleged.
Jeffrey Newman represents whistleblowers