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Founder and Managing Director
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Prim Capital Corporation was founded in 1997 to provide objective long-term financial planning and investment strategies for individuals, trusts, and institutions. Prim Capital's management team possesses decades of investment experience with professional back... more.
Joseph A. Lombardo
Joseph A. Lombardo is Managing Director of Prim Capital Corporation. After decades in the industry, Mr. Lombardo created an independent investment firm when he founded Prim Capital Corporation in 1997. Prior to 1997, he was Executive Director of New Business for Merrill Lynch for twenty years, as well as Senior Vice President at Prudential for a short period. Mr. Lombardo's last position with Merrill Lynch was Executive Director of Sports and Entertainment, which he founded with Mr. John "Launny" Steffens and Mr. Win Smith in 1992. Mr. Lombardo developed and serviced institutional relationships nationally at Merrill Lynch, working with senior management to assure that all of Merrill's resources were available to meet the needs of the institutional client. At Prim, Mr. Lombardo leads a diverse, talented group of professionals, always striving to provide the best service to clients while retaining complete independence and objectivity. Others working with him on this include Todd Hunter, Carolyn Kaufman, and Joseph Lombardo.
Investment Advising Banking
Joseph Lombardo, 72, a founder and managing director of Cleveland-based Prim Capital Corporation, pleaded guilty to charges of mail fraud and obstruction of justice in the U.S. District Court in Manhattan.
The plea followed the April arrest of Lombardo and Carolyn Kaufman, who served as president of Prim's advisory services component. The indictment also charged Lombardo and Kaufman with attempting to obstruct a grand jury investigation. Lombardo on Wednesday admitted to giving "untruthful testimony" to the grand jury. The case is U.S. v. Lombardo, U.S. District Court, Southern District of New York, No. 13-cr-00411. (Reporting by Nate Raymond; Editing by Leslie Gevirtz)
Federal prosecutors in New York announced Thursday that they are charging Prim Capital founder Joseph Lombardo, a former financial advisor for the National Basketball Players Association, with attempting to defraud the players union of $3 million by allegedly fabricating a contract that bore the false signature of a deceased man.
"As alleged, Joseph Lombardo faked the signature of a dead man as part of manufacturing a multi-million dollar contract out of whole cloth that, had it been enforced, would have caused significant losses for basketball players who entrusted him with their savings," U.S. Attorney Preet Bharara said. Continue reading →
On June 10, 2014, in the United States District Court for the Southern District of New York, Joseph Lombardo, Founder and Managing Director of Prim Capital Corporation, was sentenced to 18 months in prison, three years of supervised release, and was ordered to pay a $10,000 fine and a $200 special assessment.
On November 14, 2013, Lombardo pled guilty to mail fraud and conspiracy to obstruct justice relating to his attempt to defraud the National Basketball Players Association (located in New York, N.Y.), of $3 million through the use of a fraudulent retention contract. On December 11, 2013, Kaufman was found guilty of conspiracy to obstruct justice, obstruction of justice, and perjury related to her co-defendant Joseph Lombardo's attempt to defraud the National Basketball Players Association (located in New York, N.Y.), of $3 million through the use of a fraudulent retention contract.