News Releases

Mejdi Mahmoud Abousaoui was sentenced to serve 25 years in state prison after pleading guilty to first-degree securities fraud. Abousaoui paid $210,454.70 in up-front restitution and was ordered to pay the remaining balance of $2,803,271.56 of outstanding restitution. Abousaoui was prosecuted in the...

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop Graco Commercial Capital, LLC, and Raymond V. Grant from illegally offering investments in a bank leveraged forex trading program. Grant and Graco Commercial, operating from Greeley, Colorado, are accused of...

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop Riek Capital from illegally promoting fraudulent investments in trading programs. The order also accuses the company of engaging in an impersonation scheme – alleging Riek Capital is misappropriating the...

Securities Commissioner Travis J. Iles filed an emergency cease and desist order against Immortal Assets and its owner, Michael Wichkoski. The parties, purportedly operating from Plantersville, Texas, are accused of promoting an illegal cryptocurrency trading program. The order accuses respondents...

She was prosecuted for aggravated sexual assault of a child and is a registered sex offender. She’s now accused of concealing her past while promoting fraudulent real estate investments. Securities Commissioner Travis J. Iles filed an emergency cease and desist order to stop the scheme and protect...

The Texas State Securities Board is warning investors about a growing number of online investment schemes in which bad actors impersonate registered, licensed firms. These impersonation schemes are growing more and more sophisticated as scammers more efficiently leverage technology to defraud the...

The Alabama Securities Commission (ASC) and Texas State Securities Board (TSSB) issued cease and desist orders against FIRST CLASS WEALTH PRESERVATION, directing it to shut down illegal operations in Alabama and Texas. The ASC order and TSSB order accuse First Class Wealth Preservation of illegally...

Legacy Wealth Advisors, Inc., a Texas registered investment adviser located in Waxahachie, Texas, consented to the entry of a Disciplinary Order that will require Legacy Wealth Advisors to pay an administrative fine of $15,000. The Disciplinary Order was entered today by the Securities Commissioner...

Bradley Sherman Haycraft, 48, was indicted by a grand jury in Collin County. He was charged with illegally selling investments in the Petrified Forest Prospect, a helium well project in the Petrified Forest National Park in Arizona. He was recently arrested on the charges. The Securities...

The Texas State Securities Board (TSSB) and the Alabama Securities Commission (ASC) issued cease and desist orders against TRUE BULLION LLC DBA GSI EXCHANGE, directing it to shut down illegal operations in Alabama and Texas. The Texas and Alabama orders accuse GSI Exchange of engaging in an illegal...