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Posted Date: 10/2/2008

Arrest is a Reminder for Potential Investors to Check Before They Invest

(Las Vegas, NV; October 2, 2008) –A man with a history of wire and securities fraud, and who had been sentenced to prison time and $1.7 million in restitution, was arrested today on new securities related charges by investigators from the Nevada Secretary of State’s office. Investigators say Peter Charles Bucchieri was arrested without incident at his Las Vegas office this morning.

Bucchieri admitted to investigators that he had been operating in Nevada under the slightly different alias of Peter Buchiere so that his clients would not be able to find out about his 1998 guilty plea for conspiracy to commit wire and securities fraud. The plea, which was entered in the United States District Court for the Southern District of New York, resulted his being sentenced to a 33 month prison term and ordered to pay restitution of $1.7 million. The Securities and Exchange Commission barred Bucchieri from association with any broker, dealer, municipal securities dealer, investment adviser, or investment company based on his guilty plea to the federal criminal charges.

Bucchieri, who is not licensed as an investment advisor, broker-dealer or representative of a broker in Nevada, allegedly provided investment advice for a fee, and used his position as an advisor to steer at least one client into a tanning salon investment under what investigators say were false pretenses. Bucchieri faces four counts of offering a false instrument for filing; one count of transacting business as an unlicensed investment advisor; one count of engaging in a deceptive act while acting as an investment adviser; and, one count of securities fraud, all of which are felonies.

“This might have been avoided had the potential investor(s) or victim taken the time to check the broker’s credentials,” said Secretary of State Ross Miller. “Even though he was using an alias, a check on our website to see if he had a license would have shown that he did not. We are committed to aggressively prosecuting theses types of crimes, and we want the public to be equally aggressive in performing their due diligence before they invest. Our website,, has resources for checking the registration as well as other helpful links and resources for doing basic due diligence. It’s something every investor should do.”

Anyone with knowledge of any others who may have invested with Bucchieri, or anyone who believes they may be the victim of a fraudulent investment scheme, can contact the Secretary of State’s office at (702) 486-2440, or (775) 688-1855. As in all criminal matters, the office maintains that the allegations are merely accusations and individuals are presumed to be innocent until proven guilty in a court of law.

For more information on how to choose an investment professional, go directly to , or follow the Securities Center “investor education” links at