Vertical Group Sued

1 decade 1 year 1 month ago Thursday, March 29 2007 Mar 29, 2007 Thursday, March 29, 2007 6:55:57 PM CDT March 29, 2007 in News
Michael Trom is one of nine plaintiffs in the federal lawsuit against Vertical and Chief Executive Officer Nathan Reuter, who was Trom's friend.

"I said, 'Here's my friend giving me a chance of a lifetime, so, you know, we'll go for it," Trom explained.

But, Trom said his chance of a lifetime turned into a nightmare when Reuter, who lives just four houses away, gave him the runaround.

"I used to go over there, or call him, practically every day to track what was going on with it, and I got excuse after excuse," said Trom. "I knew at that point that it was bogus."

Trom said Reuter took $175,000 from him. The lawsuit claims Reuter had a pattern of criminal activity, was not licensed as a broker-dealer in Missouri, and defrauded investors of $3 million.

"There's a lot of people missing a lot of money, and we'd all like it back, and somebody to pay for what's been done to us," Trom added.

He said the most painful part is finding out his former hunting buddy cheated him.

"I believed him," said Trom. "I trusted him."

KOMU asked Reuter to respond, but he did not return our calls.

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