Peiffer Wolf is investigating claims on behalf of individuals in Missouri, Texas, and across the country who purchased White River Energy Native American Tax Credits (NATCs) through e3 Wealth advisors, including John Edward Moriarty, Joseph Allen Quartucci, John Tyler Mattingly, and Arpit Sharma.
e3 Wealth (d/b/a Transce3nd, LLC, CRD # 317745) is a Texas-based wealth management and tax planning firm. The firm’s principals and associates(including John E. Moriarty, Joseph Quartucci, John Mattingly, and Arpit Sharma)allegedly recommended and sold White River Energy “sovereign tribal tax credits” to clients—credits the IRS says do not exist.
John E. Moriarty (CRD # 2720704), who is based in St. Louis, MO, and Joseph Quartucci (CRD # 4522516), who is based in Austin, TX, are the founders of e3 Wealth (which is registered under Transce3nd, LLC, CRD # 317745). The firm has physical locations in Missouri and Texas, and virtual locations in Georgia and Arizona. Tyler Mattingly (CRD#: 3102165) and Arpit Sharma (CRD#: 7623706) are both based in Austin, TX and are listed as part of e3 Wealth’s “Executive Team,” with Mattingly as President and Sharma as Chief Investment Officer (CIO). They are FINRA-registered through Madison Avenue Securities and registered as investment adviser representatives through Transce3nd, LLC.
e3 Wealth allegedly marketed and sold White River Energy Corp’s Native American Tax Credits (NATCs) (also branded as “Sovereign Tribal Tax Credits”) to clients through the Nepsis Tax Advisors distribution network. The IRS has since confirmed in writing to the United States Senate that these credits “do not exist.” In 2025 the IRS formally classified tribal tax credits as a “scheme” in its Internal Revenue Manual, and advised its agents that such credits “are not allowed, regardless of the amount claimed or the type of documentation provided.”
If e3 Wealth advisors sold you Native American Tax Credits that the IRS has rejected, contact Peiffer Wolf by calling 585-310-5140 or filling out an online contact form for a FREE consultation.
e3 Wealth Management Emphasized Tax Strategies—Including The “White River NATC”
e3 Wealth Management’s website emphasizes its “outside-the-box” methods for wealth management and accumulation, including “advanced strategies” for tax mitigation. The White River NATC program appears to fit within that model: it was marketed as a tax-savings opportunity promising a 67% return on cash invested. The program suggested a buyer could pay roughly 60 cents for every dollar of federal tax credits and apply those credits directly against federal income tax liability. However, the U.S. Treasury has stated that no such credits exist, that the Cherokee Nation has issued a cease-and-desist to White River, and that the IRS would reject all such credits regardless of documentation provided.
The White River NATC Scheme and Federal Investigation
Public reports and government materials indicate that the White River Energy NATC program was marketed through a national network of financial advisers and firms associated with Nepsis Tax Advisors LLP of Minneapolis. Purchasers wired funds—typically a minimum of $100,000—to accounts associated with Nepsis at U.S. Bank in Minneapolis. After federal authorities publicly confirmed the credits were not valid in December 2024, Nepsis reportedly informed clients in April 2025 that it could no longer file the credits on their returns and, according to litigation filings, refused to return client’s money. At least one federal lawsuit alleges that White River and Nepsis refused to refund purchase prices totaling $750,000 even after it became clear the credits were worthless. Senator Ron Wyden estimated in January 2026 that total sales of the credits may exceed $100 million.
Regulatory Duties and Madison Avenue Securities’ Supervisory Obligations
As FINRA-registered representatives and investment adviser representatives, Quartucci, Moriarty, Mattingly, and Sharma owed clients a best interest obligation under the Best Interest Regulation and, in their advisory capacity, fiduciary obligations under the Investment Advisers Act. These standards generally require financial professionals to conduct reasonable due diligence before recommending investment or tax-related strategies and to disclose material risks. Madison Avenue Securities, as the FINRA-registered broker-dealer through which Quartucci, Moriarty, Mattingly, and Sharma were registered representatives, may have had supervisory obligations under FINRA Rule 3110 or otherwise to maintain a supervisory system reasonably designed to monitor registered representatives and certain outside business activities. Investors who purchased White River NATCs through advisors affiliated with e3 Wealth may have claims against individuals involved, their advisory firm, and, depending on the circumstances, the supervising broker-dealer.
Do I Have a Claim?
If an e3 Wealth advisor—including Joseph Quartucci, John Moriarty, John Mattingly, or Arpit Sharma—recommended that you purchase White River Energy Native American Tax Credits, you may be entitled to recover your losses. Any claim is subject to applicable statutes of limitation and other filing deadlines, so it is important to seek legal advice promptly.
If e3 Wealth sold you tribal tax credits that the IRS has rejected, contact Peiffer Wolf by calling 585-310-5140 or filling out an online contact form for a FREE consultation.
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