Investment Advisory Services
WagsCap Food Services LLCFind BBB Accredited Businesses in Investment Advisory Services.
Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
Fraud Charges
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
In October 2024, Aaron Wagner an investment broker was federally charged with wire fraud, accused of defrauding over $2 million from clients through his investment firm, WagsCap Food Services. He allegedly promised investors opportunities into restaurants needing funding. According to charging documents, Wagner would promise investors the funds would go to the projects but would then divert the funds to other uses such as personal expenses and other projects. One client told investigators that instead of using the funds on the project he purchased an $8 million private plane which investors were not aware of, nor approved, their funds being used to buy the plane. Prosecutors further allege that when an investment project was successful, Wagner would artificially inflate business expenses and embezzle the majority of the profits.
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