Meyer Wilson Werning investigates Forge Securities Over Alleged Pre-IPO Fraud Scheme
National investor protection firm launches investigation into broker-dealer's role in federally indicted multimillion-dollar scam
COLUMBUS, Ohio, March 12, 2026 (GLOBE NEWSWIRE) -- Meyer Wilson Werning, a national investor protection law firm, has launched an investigation into Forge Securities LLC, a FINRA-registered broker-dealer and subsidiary of Forge Global Holdings, over its alleged role in directing investors into a federally indicted pre-IPO fraud orchestrated by Sestante Capital LLC.
In December 2025, federal prosecutors unsealed a criminal indictment against Giovanni Pennetta, managing partner of Sestante Capital, charging him with securities fraud, wire fraud, and aggravated identity theft. Pennetta allegedly fabricated access to pre-IPO shares in Anduril Industries (a private defense technology company valued at approximately $30 billion), and funneled investors into the scheme through NextGenTech Investments LLC.
The firm is now investigating whether Forge Securities brokers met their obligations under Regulation Best Interest and FINRA rules before recommending or facilitating those investments.
“Investors who came to Sestante Capital through Forge had every reason to believe they were operating in a regulated, vetted system,” said David P. Meyer, founding partner of Meyer Wilson Werning. “The question is whether Forge brokers did the basic verification that federal law requires, or whether they collected fees while investors were steered into a fraud that a simple check could have uncovered.”
The SEC flagged pre-IPO fraud as a priority enforcement area in fiscal year 2024, charging schemes totaling over $700 million in the past 18 months alone.
Investors who were introduced to Sestante Capital or NextGenTech through any Forge-affiliated broker, paid fees or commissions to Forge, or were promised exposure to Anduril pre-IPO shares may have legal options for recovery. All cases are handled on a contingency fee basis, clients pay nothing unless the firm recovers money.
For more information, visit investorclaims.com/fraudulent-pre-ipo-investment/.
###
About Meyer Wilson Werning
Meyer Wilson Werning is a national investor protection law firm dedicated to holding Wall Street accountable to Main Street. Since 1999, the firm has recovered over $350 million for investors and fraud victims harmed by broker misconduct, Ponzi schemes, elder exploitation, and crypto exchange failures. Led by founding partner David Meyer, PIABA Past President and author of the Amazon #1 Bestseller The Investor Protector, and principal Courtney Werning, incoming PIABA President, the firm handles FINRA arbitration, securities litigation, and class actions on a contingency fee basis. Visit investorclaims.com to learn more.
Heather Holmes heather@publicityforgood.com 1+(828)332-5307 publicityforgood.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
