News & Publications

News Releases

May 3
2023

Texas Leads Coordinated States Action to Stop Artificial Intelligence Investment Scam. The AI was Purportedly Endorsed by Elon Musk and Comparable To CHATGPT

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop an investment scheme purportedly powered by artificial intelligence and endorsed by Elon Musk. The Texas State Securities Board led a group of regulators that include the Alabama Securities Commission, the...
Apr 17
2023

Texas Securities Board Enters Final Order Against Crypto Firm Nexo Capital, Inc.

On April 17, 2023, the Texas State Securities Board entered a final order against Nexo Capital Inc. (“Nexo”). Nexo was organized as a Cayman Islands corporation and dealt in interest-bearing digital asset accounts. Clients invested in the accounts by lending digital assets to Nexo, and Nexo afforded...
Apr 6
2023

Texas Joins Multiple States In $10 Million Settlement With Robinhood for Failing Investors

The Texas State Securities Board announced today that it has joined a multi-state settlement with Robinhood Financial LLC, which will pay up to $10.2 million in penalties for operational and technical failures that harmed main street investors. The settlement stems from an investigation spearheaded...
All News Releases

Enforcement Actions: Administrative

May 3
2023

Order No. ENF-23-CDO-1872

In the Matter of Horatiu Charlie Caragaceanu aka Horatiu Caraceanu, Horatu Cara and Charlie Caragaceanu; The Shark of Wall Street; and Hedge4.ai: Emergency Cease and Desist Order 

Apr 27
2023

Order No. IC-23-CAF-02

In the Matter of the Agent Registration of Paul Prasifka: Reprimanded and fined

Apr 17
2023

Order No. ENF-23-CDO-1871

In he Matter of Nexo Capital, Inc.: Consent Order

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