North Carolina State officials have accused ASHI past President John Jerome Palczuk of North Raleigh of posing as a securities dealer for nearly a five-year period, swindling unsuspecting victims out of tens of thousands of dollars.
Palczuk, 60, who lives at 11629 Midlavian Drive near Falls of Neuse Road, has been charged with one felony count of securities fraud, one felony count of sale of unregistered securities and one felony count of being an unregistered securities dealer, according to arrest warrants filed Wednesday at the Wake County Magistrate’s Office.
“The value lost by the investors is greater than $100,000,” John C. Curry, an investigator with the Secretary of State’s office, stated in the arrest warrants.
Palczuk is in custody at the Wake County jail. He is being held under bail of $100,000, according to the warrants.
Source: The News & Observer