News Releases

Oct 17

Adviser Suspended 5 Years for Overcharging Clients

Texas Securities Commissioner John Morgan entered a Disciplinary Order on Oct. 14 that suspended Jens Pinkernell , an investment adviser representative, for five years.

As part of the order, Pinkernell repaid $46,915 to two clients who were charged unauthorized and excessive fees by...

Oct 3

Firm Fined $100,000 for Sale of Mortgage-Linked Securities

Old Security Financial Group Inc. of Spring was fined $100,000 for selling unregistered investments in a “mortgage note program” supposedly backed by commercial real estate.

The fine, which will be paid to the General Fund of the State of Texas, was assessed against Old Security, its...

Sep 30

Administrative Action Report: July-Sept. 2016

The following are summaries of administrative actions and orders taken from July 1 through Sept. 30, 2016.

Charles Schwab: Co. Inc.: Fine, Reprimand

Charles Schwab & Co. Inc. was reprimanded and agreed to pay a $95,000 fine for failing to verify that certain individuals with powers...

Enforcement Actions: Administrative

Oct 14

Order No. IC16-SUS-17

In the Matter of the Investment Adviser Registration of J. Pinkernell Global Wealth LLC and the Investment Adviser Representative Registration of Jens Pinkernell: Suspension

Oct 4

Order No. REG16-SUS-03

In the Matter of the Investment Adviser Representative Registration and the Agent Registration of MF Long II: Registrations Granted, Suspension, Undertaking

Enforcement Actions: Criminal & Civil

Aug 11

Michael Anthony Collins: Sentenced, 15 Years

Michael Anthony Collins pleaded guilty to charges of securities fraud, theft, and money laundering and was sentenced to 15 years on each count on Aug. 11 in Jim Wells County State District Court. The sentences will run concurrently.

Collins was also ordered to pay restitution of $3...

May 26

Nicholas Baratoff: Indicted

Nicholas Baratoff Jr. was indicted on May 26 in Nueces County State District Court on two counts of misapplication of fiduciary property and one count of theft.

Baratoff operated an investment fraud in Nueces County from 2008 to 2015, according to the indictment. He allegedly sold...

May 24

Allan George Cooper: Indicted

Allan George Cooper of Houston was arrested May 24 and charged with wire fraud and mail fraud in a $5 million investment fraud involving at least 50 victims.

According to the U.S. Attorney's Office for the Southern District of Texas, a federal grand jury returned the indictment of...


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