News Releases

Apr 3
2020

Forex Trader Touts 'Recession-Proof'Haven in Markets Roiled By COVID-19

Texas Securities Commissioner Travis J. Iles took emergency action on April 3 to stop the offering of a purported foreign currency trader promising a “safe haven” investment in a time when world markets are roiled by the COVID-19 pandemic.

According to the Emergency Cease and Desist...

Apr 2
2020

LendingClub Fined $400,000 for Unregistered Sales in Texas

LendingClub Corp. , a national online lending marketplace, has been fined $400,000 for the unregistered sales of loans during an almost five-year period.

Texas Securities Commissioner Travis J. Iles April 1 entered a Consent Order that reprimanded and fined LendingClub while also...

Mar 26
2020

Investor Alert: Protecting Your Financial Health in the Pandemic Era

The COVID-19 pandemic has roiled securities markets in ways we have never experienced and is making financial decisions vastly more difficult than usual.

We want to assure Texans that our primary focus remains on the protection of retail investors, and we are actively taking steps to...

All News Releases

Enforcement Actions: Administrative

Apr 3
2020

Order No. ENF-20-CDO-1800

In the Matter of James Frederick Walsh AKA Jim Walsh AKA "Stormy" Walsh: Emergency Cease and Desist Order

Feb 25
2020

Order No. ENF-CDO-20-1798

In the Matter of Senior Asset Protection Inc. DBA Encore Financial Solutions, Merchant Growth & Income Funding LLC, ABetterFinancialPlan.com LLC AKA A Better Financial Plan, Complete Business Solutions Group Inc. DBA Par Funding, Gary Neal Beasley and Perry Abbonizio: Emergency Cease and Desist Order

All administrative actions

Enforcement Actions: Criminal & Civil

Mar 27
2020

William Neil 'Doc' Gallagher: Sentenced to 25 Years, $10.3 Million Restitution

William Neil “Doc” Gallagher, the self-styled "Money Doctor" who advertised frequently on Christian radio in North Texas, was sentenced to 25 years in state prison on March 27 and ordered to pay $10,386,816 in restitution to the victims of the long-running fraud he operated from his retirement...

Feb 19
2020

Brett Pittsenbargar: Indicted

Brett Pittsenbargar , an Austin insurance agent who allegedly sold $9.3 million in fraudulent investments, was arrested Feb. 19 to face first-degree felony charges of securities fraud , money laundering , and theft .

A Travis County grand jury's Feb. 4 indictment of Pittsenbargar was...

Feb 13
2020

Brian Keith Alfaro: Convicted

A federal jury in San Antonio on Feb. 13 found Brian Keith Alfaro guilty of seven counts of mail fraud in connection with defrauding investors in Primera Energy LLC , the oil and gas exploration company he owned.

Alfaro's sentencing is scheduled for June 22.

The 2018 indictment...

All civil & criminal actions

Publications

Salute to Smart Investing cover

A Salute to Smart Investing

To help active military members achieve financial security, Salute covers investment "basic training," retirement planning, avoiding scams – and much more

 

It's Your Financial Life cover

It's Your Financial Life

Young workers of the world, invest! Your Financial Life cuts through the thicket of financial jargon and products as you begin managing your own finances.

All publications