News Releases

Feb 13

Next Financial to Refund $500,000 to Customers, Pay $100,000 Fine

Next Financial Group Inc. of Houston agreed to refund $500,000 to customers of a former Texas agent who for five years moved clients in and out of high-cost mutual funds to generate commissions.

Next Financial Group also paid a $100,000 fine to the State of Texas for failing to properly...

Jan 21

Tin Is Traditional For 10th Anniversary. We Got You Something Better.

Tin and aluminum are traditional for a 10th anniversary, but we got you a book: The 10th anniversary edition of the Texas Investor Guide: Strategies for Investing Wisely and Avoiding Financial Fraud .

As always, it is free upon request, and you can obtain copies by providing a mailing...

Enforcement Actions: Administrative

Feb 13

Order No. IC20-CAF-01

In the Matter of the Dealer Registration of Next Financial Group Inc.: Fine; Repayment to Customers; Reprimand

Dec 30

Order No. ENF-CDO-20-1796

In the Matter of Inkprint Finance; Onoriode Ikimi AKA Steve Ikimi; and Kevin Flores AKA Kevin Ulises Flores Santos: Emergency Cease and Desist Order

Nov 22

Order No. ENF-CDO-20-1792

In the Matter of U.S. Energy Assets LLC; Texas Victory Joint Venture; Timeless Protect LLC; Raymond Leslie Boykin; Mark Taylor; Duane Lee; Sunil Joseph AKA Joseph Sunil; and Paul James: Emergency Cease and Desist Order

Enforcement Actions: Criminal & Civil

Feb 13

Charles McAllister: Sentenced to 10 Years

U.S. District Judge Lee Yeakel on Feb. 13 sentenced Charles McAllister , the CEO of Austin-based Bullion Direct Inc. , to 10 years in prison and ordered him to pay $16.1 in restitution to 5,800 victims of his scheme.

A jury in U.S. District Court in Austin convicted McAllister on Oct. 4...

Jan 16

James A. Reid: 6 Years Community Supervision, Restitution

James A. Reid of Cedar Park, a former stockbroker, was sentenced to six years deferred adjudication and ordered to pay $93,500 in restitution to investors in his company's short-term investments fund. Reid was sentenced Jan. 16 in the 331st District Court of Travis County. He paid $75,000 of his...
Dec 19

Nathaniel A. Brooks Jr.: Sentenced to 1 Year, Restitution

Nathaniel Anthony Brooks Jr. , who pleaded guilty to a fraudulent commodity trading scheme, was sentenced to one year and one day in federal prison in U.S. District Court in Austin on Dec. 20. Brooks pleaded guilty in October to a charge of monetary transaction in criminally derived property...


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