Cornerstone Enterprises of Greenwood, Inc. 17-03127 and Melvin Lee Wimmer 17-3751: These are companion cases.  Cornerstone Enterprises was owned and exclusively managed by Melvin Lee Wimmer. Although not licensed, Wimmer managed retirement accounts for “friends” and relatives.  In reality, he was spending his client's retirement money on his salary and the salary of his wife, Tammy Wimmer, and their personal expenses.  The personal expenses included trips, college tuition, a Greenwood Lake home and gifts to family.  We have identified over $3,000,000.00 in payments that were not for the corporate purpose of Cornerstone. We assisted a special agent from the Federal Bureau of Investigation in proving which payments were not for a corporate purpose.  Wimmer pled guilty to securities fraud and was sentenced to 75 months in prison in October 2018.  He is also ordered to pay restitution. We continue to pursue the fraudulent payments primarily through the efforts of Josh Hudson, Esq. of Roe Cassidy in Greenville.

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