RALEIGH, N.C. – Stephen Condon Peters, a former Raleigh investment advisor and owner of Visionquest Wealth Management, lost his appeal today in a per curiam opinion issued by the United States Court of Appeals for the Fourth Circuit. The judgment against Peters, which included a 40-year prison sentence, $15,063,624.30 in restitution, and forfeiture of assets, was fully affirmed.
Acting United States Attorney G. Norman Acker, III stated, “For years now, the many victims of former investment advisor Stephen Peters have been holding their breath, waiting for any kind of news about the outcome of his appeal, so that they can move on with their lives. Today I am pleased to report that the appeal is over. There were no dissenting votes. Stephen Peters will serve the 40 years imposed upon him. With this result, this office can now resume its efforts to liquidate assets and return them to victims as quickly as possible.”
Peters was convicted on all charges against him in a week-long trial in 2019. The evidence showed that Peters, in his role as a Registered Investment Advisor, defrauded his numerous clients by steering them into investments in which Peters had a direct financial interest. He then compounded his crimes by attempting to defraud the SEC with false documents and statements. At sentencing, the judge commented that Peters’s crimes were “breathtaking,” but were proven with a “tsunami of evidence.” In issuing its 40-year…
