Manchester Man Arrested On Securities Counts

Note: this press release was issued by the Division of Criminal Justice
and not by the Department of Banking. For further information, 
please contact the Division of Criminal Justice at (860) 258-5800.

February 27, 2004 -

Chief State’s Attorney Christopher L. Morano announced the arrest today of Nathan Weissberg, age 75, of Manchester, pursuant to a warrant charging him with two counts each of Sale of Unregistered Securities and Failing to Register as an Agent of the Securities Issuer.

According to the arrest warrant affidavit, Mr. Weissberg, a self-described financial consultant, was not licensed to sell securities within Connecticut, as required by state law.

The affidavit alleges that he sold unregistered securities to a Guilford man and his family in the form of promissory notes issued by two different companies. The family allegedly lost approximately $165,000 through their investments with Mr. Weissberg.

He faces a maximum possible sentence of 8 years in prison if convicted of all charges, along with an order of restitution to the victims.

Mr. Weissberg was released on a Promise to Appear. He will be arraigned on March 5, 2004 at Superior Court, G.A. #12, Manchester.

The matter was jointly investigated by the Chief State’s Attorney’s Office and the Securities and Business Investments Division of the Connecticut Department of Banking. The case is being prosecuted by the Statewide Prosecution Bureau in the Chief State’s Attorney’s Rocky Hill office.

The charges against Mr. Weissberg are merely accusations, and he is presumed innocent unless and until proven guilty.