First Fidelity USA announced today that it has taken criminal action against Dominic Alessandro from Toronto, Canada.
In October of Dominic Alessandro entered into a stock subscription agreement with First Fidelity USA on behalf of its client, SIPP International Industries, Inc. Mr. Alessandro duped First Fidelity into sending him the shares before they received the funds for the purchase. Immediately thereafter, Mr. Alessandro took the shares to Nassau Bahamas where he deposited the shares and sold them off on the open market. His actions caused the share price of SIPP to drop from $2.75 per share down to today's low of $. 02 per share. It is further believed that Mr. Alessandro funneled the proceeds into properties and other companies that he owns or has interests in; Toronto as well as in Miami, Florida. "Liens will be filed in Toronto as well as in Dade County against his properties, " states William Ray of First Fidelity. "This guy is nothing but a common thief and we are pursuing this matter until we recoup what has been stolen and until Mr. Alessandro is behind bars."
Besides filing the criminal complaints here in the U, S., they have filed criminal complaints with the Ontario Securities Commission as well as the local Crown in Toronto.
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