News & Publications

News Releases

Sep 8
2023

The Securities Commissioner entered three unrelated administrative Orders the week ending September 8, 2023

Michael Delao was suspended for 90 days and assessed an administrative fine of $5,000 for failing to report a felony charge to the Securities Commissioner within thirty days of its occurrence, in violation of an agency Board Rule. This was the second disciplinary action taken by the Securities...
Aug 2
2023

Texas Joins Multi-State Group to Recover Overcharges for Investors In Commodity Firm Lear Capital Bankruptcy

August 2, 2023 – The Texas State Securities Board (TSSB) announces investors who purchased retail precious metals from Lear Capital will receive compensation as a part of Lear’s bankruptcy plan. State securities regulators had been investigating Lear for deceptive securities and commodities...
Jun 15
2023

Abra Earn and Abra Boost Warning

STATE ACTIONS ALLEGE FIRMS WERE INSOLVENT OR WERE NEARLY INSOLVENT BY MARCH 31, 2023 On June 15, 2023, the Texas State Securities Board filed enforcement actions against various companies collectively known as Abra and William John “Bill” Barhydt, the founder and CEO of Abra. The enforcement actions...
All News Releases

Enforcement Actions: Administrative

Sep 7
2023

Order No. IC-23-CAF-06

In the Matter of the Dealer Registration of Titan Securities: Undertaking and Fined

Sep 7
2023

Order No. IC-23-CAF-05

In the Matter of the Investment Advisory Registration of Bison Investment, LLC: Undertaking, Reprimanded, and Fined

Sep 5
2023

Order No. IC-23-CAF-04

In the Matter of Agent Registration of Michael Delao: Suspended and Fined

All administrative actions

Enforcement Actions: Criminal & Civil

Oct 29
2021

Former Registered Securities Professional Entered a Plea to Securities Fraud and other Crimes

On October 29, 2021, Derrick R. Trussell (CRD No. 5197550) entered a plea of no contest to securities fraud, securing execution of a document by deception and misapplication of fiduciary property in Cause No. 2019-CR-5767B, in the 175th Judicial District Court of Bexar County, Texas. Trussell was...
Oct 28
2021

Warning to Victims of Rare Earth Exploration LLC, Bradley Sherman Haycraft and Timothy Taylor

The Texas State Securities Board is warning investors in Rare Earth Exploration LLC about a fake financial settlement scam involving the Gordon Black & Associates Law Firm and International Corporate Entity Inc. Scammers claiming to be employees of Gordon Black & Associates are contacting investors...
Oct 15
2021

Larry Steve Bassett - Indicted

On October 15, 2021, a grand jury sitting in Lee County, Texas, indicted Larry Steve Bassett for first-degree securities fraud, theft and money laundering. The charges relate to his alleged unlawful sale of investments in a trading program to 15 victims for approximately $1.5M. Bassett is accused of...
All civil & criminal actions

Publications

Texas Investor Guide Cover

Texas Investor Guide

Strategies for Investing Wisely and Avoiding Financial Fraud

Nest Egg, IRA, 401k, Money

Everyone's Investment Guide

A six-part online presentation covering Making Investments, the Principles of Investing, Investing for a Secure Retirement, Planning Withdrawals, and Avoiding Scams.

Cover

Financial Field Manual

A Personal Finance Guide for Military Families

All publications