News Releases

Aug 12

Unregistered Agent Agrees to Cooperate in Investigation of Oil Investment

Jeremy “JB” Yowell , an unregistered investment promoter for Fort Worth-based Woodland Resources LLC , is cooperating with the Enforcement Division of the State Securities Board in its investigation of the company and its director of operations, longtime oilman Michael E. Patman .


Aug 7

Emergency Order Cites Bitcoin, Forex Trader As Crypto Crackdown Continues

Texas Securities Commissioner Travis J. Iles on Aug. 6 entered the fourth emergency action against a cryptocurrency investment promoter since the State Securities Board started a second investigative sweep of suspect cryptocurrency offerings in late June.

According to the Emergency...

Aug 5

Lubbock Adviser Fined $40,000 for Failure to Supervise Accounts

Lubbock investment adviser Lowell & Company Inc. paid a $40,000 fine to the State of Texas for failing to supervise a representative who nearly wiped out the assets in two client accounts by holding onto an exchange-traded fund designed for short-term trading.

Besides the fine, the...

Enforcement Actions: Administrative

Aug 6

Order No. ENF-19-CDO-1785

In the Matter of Forex and Bitcoin Trader AKA Forex & Bitcoin Traders AKA FX & Bitcoin Trader AKA FX & Bitcoin: Emergency Cease and Desist Order

Aug 2

Order No. REG19-CAF-04

In the Matter of the Investment Adviser Registration of Lowell & Company Inc.: Fine, Reprimand

Enforcement Actions: Criminal & Civil

Jul 12

Daniel Christopher Walsh: Sentenced, 18 Years

Daniel Christopher Walsh , a Galveston oilman who made money by keeping investor funds in his pockets – not in the ground, drilling wells –was sentenced to 18 years in state prison on July 12 after reaching a plea agreement in his fraud trial in Wichita County.

Walsh pleaded guilty to...

May 1

Danny Ray Digman: Indicted

Danny Ray Digman , who served time in state prison in the early 2000s for operating a fraudulent investment program based on the revenue from mobile ATMs in Central Texas, was indicted May 1 in Randall County on multiple felony charges for allegedly perpetrating the same ATM fraud in the Texas...

Mar 12

William Neil Gallagher: Indicted

William Neil “Doc” Gallagher , who promoted his investment business on Christian radio and in books like “Jesus Christ, Money Master,” was arrested March 8 on first-degree state felony charges of securities fraud and money laundering in Dallas County. Prosecutors disclosed the arrest on March...


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