News Releases

Jun 8

Houston-Area Adviser Pleads Guilty in $1.9 Million Fraud

Lawrence Allen DeShetler, an investment adviser and former certified financial planner in The Woodlands, pleaded guilty to mail fraud June 8 in U.S. District Court in Beaumont, Acting U.S. Attorney Brit Featherston announced.

DeShetler fraudulently obtained $1.9 million from five...

Jun 5

Email Request Marked SPAM, But Compliance Officer Wired Money Anyway

Securities Commissioner John Morgan entered a Disciplinary Order June 2 that fined and reprimanded a Chicago-based securities dealer whose compliance officer repeatedly wired funds to individuals pretending to be a 75-year-old Texas client of the firm.

In three separate transactions in...

May 24

Southeast Asia, West Africa, and a Bankrupt Texas Investment Promoter

Nearly $341,000 in restitution has been paid to investors in a company whose fraud stretched from Southeast Asia to southeast Texas to West Africa.

Alan Derek Jernigan , who sold investments in deals that would purportedly export medical test kits to the Philippines and Malaysia, was...

Enforcement Actions: Administrative

Jun 21

Order No. REG17-CAF-05

In the Matter of the Agent Registration of Trevor M. Carney: Fine, Reprimand

Jun 19

Order No. IC17-CAF-02

In the Matter of the Investment Adviser Registration of Provident Capital Management Inc.: Suspension, Fine

Jun 2

Order No. IC17-CAF-01

In the Matter of the Dealer Registration of PTI Securities & Futures LP: Fine, Reprimand


Enforcement Actions: Criminal & Civil

May 22

Alan Derek Jernigan: Sentenced

Alan Derek Jernigan was sentenced May 22 to 10 years probation, a condition of which was full restitution of $340,960 to five investors in a fraudulent scheme involving the sale of medical kits overseas.

Jernigan lived in the Houston area when he sold investments in deals that would...

May 10

Juan Miguel López: Indicted

Juan Miguel López , the owner of Mito Financial LLC in Addison and affiliated companies, was arrested May 10 and faces charges of securities fraud, theft of property, and money laundering for allegedly defrauding individuals who invested millions of dollars in his companies. López had been...

May 5

Allan George Cooper: Convicted

Allan George Cooper of Montgomery was convicted May 5 on charges of mail and wire fraud in connection with a $50 million investment scheme involving approximately 50 victims.

Cooper pleaded guilty to the charges in U.S. District Court for the Southern District of Texas. Sentencing is...


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