R.I. man charged with defrauding investors in Ponzi scheme

Scott Blake

06/17/2019

William F. Galvin — WILLIAM F. GALVIN, Mass. secretary of the commonwealth, alleges David Wagner, along with Downing Partners and its subsidiaries, operated a Ponzi scheme that defrauded investors out of more than $10 million. / COURTESY MASS. SECRETARY OF THE COMMONWEALTH

PROVIDENCE – David Wagner of East Greenwich and Downing Partners LLC and its subsidiaries have been charged with defrauding investors out of millions of dollars. Separate complaints were announced June 14 by the U.S. Securities and Exchange Commission and Mass. Secretary of the Commonwealth William F. Galvin. The SEC alleges that between May 2014 and January…

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