Nov 28
2018

Commissioner Acts to Stop Crypto Promoter's Second Scheme

Texas Securities Commissioner Travis J. Iles entered an emergency action Nov. 27 to stop an investment offering by a cryptocurrency promoter who previously sold a digital currency that lost 99% of its value.

The Emergency Cease and Desist Order alleges that Mark Steven Royer of Del Mar,...

Nov 14
2018

North Texas Developer Indicted for Alleged $17 Million Real Estate Fraud

Phillip Michael Carter of Frisco was arrested Nov. 13 to face state fraud charges in connection with raising $17.5 million from nearly 100 Texas investors – many of them elderly – for real estate development projects in North Texas.

Shelley Noel Carter , Phillip Carter’s wife, was...

Nov 6
2018

Dallas Adviser to Pay $52,569 in Fines and Reimbursed Fees

Brazos Securities Inc. of Dallas will pay a $20,000 fine to the State of Texas and pay $32,569 to a client who was charged excessive fees after being moved to an investment advisory account at the firm.

The Disciplinary Order , which Texas Securities Commissioner Travis J. Iles entered...

Nov 5
2018

Broker-Tech Firm Fined $25,000 for Unregistered Activity

Texas Securities Commissioner Travis J. Iles entered a Disciplinary Order on Nov. 5 that levied a $25,000 fine on Trade-PMR Inc. , a provider of brokerage and technology services, for failing to know that two investment advisers using its services were not registered to render investment advice...

Oct 10
2018

State Regulators Release Annual Enforcement Report

The North American Securities Administrators Association (NASAA) today released its annual enforcement report, which shows a reversal in a recent trend as more enforcement actions were taken in 2017 against unregistered individuals or firms than registered members of the securities industry....

Oct 10
2018

Forex Firm, Targeting Small Investors, Ordered to Halt Offerings

Texas Securities Commissioner Travis J. Iles on Oct. 10 took emergency action against a financial firm that is promising investors of limited financial means that it can produce huge returns from investments in foreign currency trading, real estate, and oil and gas.

The Securities...

Sep 30
2018

Administrative Action Report July-Sept 2018

The following are summaries of administrative actions the Texas State Securities Board took from July 1 through Sept. 30, 2018:

Sunlight Investments: Fine, Reprimand

Texas Securities Commissioner Travis J. Iles levied a $15,000 fine against Sunlight Investments of Katy for rendering...

Sep 18
2018

Russian Promoters, Offshore Crypto Bank Targeted in Orders

Texas Securities Commissioner Travis J. Iles took emergency action Sept. 18 to stop the fraudulent offerings of investments in three separate schemes involving cryptocurrencies.

Commissioner Iles entered separate emergency cease and desist orders against Coins Miner Investment Ltd. , a...

Aug 28
2018

States Continue Crackdown on Cryptocurrency Investments

U.S. state and Canadian securities regulators, continuing their crackdown on questionable cryptocurrency-related investments, have taken 47 enforcement actions against fraudulent investment promoters and opened more than 200 investigations since May 1.

The North American Securities...

Aug 7
2018

Emergency Action Taken Under Vulnerable Adult Financial Exploitation Law

Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order August 6 against a computer repairman who transferred nearly $28,000 from a financial account of an 88-year-old resident of Del Rio.

The cease and desist order is the first action taken by the...

Jul 19
2018

Perpetrator of Real Estate Fraud Sentenced in Nueces County to 20 Years

Everett Craig Williams was sentenced to 20 years in state prison on July 18 and ordered to pay $189,000 in restitution to investors in a fraudulent real estate program with victims in Nueces, Collin, and Harris counties.

Judge Bobby Galvan of the 94th State District Court of Nueces...

Jul 12
2018

Emergency Action Targets Promoters of Crypto-Mining Investments

Texas Securities Commissioner Travis J. Iles took emergency action July 11 to stop a network of companies from fraudulently offering cryptocurrency-related investments to Texas residents.

The companies named in the Emergency Cease and Desist Order are controlled by Darren Olayan of Lehi...

Jul 5
2018

Bob Guess, Author of 'Robbed With A Pen Again,' Sentenced to 12 Years

Bobby Eugene Guess, who at one time touted his investment skills through a radio show called “Dollars & Sense” and with in-person financial seminars, was sentenced to 12 years in prison on July 3 for fraud in the sale of millions of dollars in securities in a worthless internet company....

Jun 30
2018

Administrative Action Report April-June 2018

The following are summaries of administrative actions the Texas State Securities Board took from April 1 through June 30, 2018:

Estrada Trucking, Capital Cash, Financial Freedom Club, Mark J. Moncher, 911MoneyStore Inc., and Frank Dalotto: Emergency Cease and Desist

Texas Securities...

Jun 8
2018

How Did You Ever Hold a Family Reunion Without the 'Texas Investor Guide'?

The Texas State Securities Board distributes thousands of copies of its Texas Investor Guide each year to individuals, associations, community organizations, and families. A few dozen of the nearly 4,000 copies we've distributed so far in 2018 have gone to families who plan to hand them out...

Jun 5
2018

Perpetrator of Oil and Gas Fraud Sentenced to 8 Years in Harris County

James Dean French was sentenced to eight years in state prison on June 4 after pleading guilty to first-degree felony securities fraud in connection with the sale of investments in a purported West Texas oil and gas project.

French was sentenced in the 230th State District Court of...

May 24
2018

Former Pastor Sentenced to 68 Years for $23 Million Fraud

Timothy Lloyd Booth, a former pastor in McKinney, was sentenced to 68 years in state prison on May 23 after his conviction in the 296th District Court of Collin County on first-degree felony charges of theft and securities fraud.

Booth, 60, stole approximately $23 million from mostly...

May 21
2018

Texas Spearheads US-Canada Probe of Cryptocurrency Investments

The Texas State Securities Board, a leader in policing cryptocurrency-related investments, has joined more than 40 U.S. state and Canadian regulators in a coordinated investigation of fraudulent cryptocurrency-related investment products.

The North American Securities Administrators...

May 15
2018

Houston Firm Ordered to Stop Fraudulent Crypto Offering

Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order on May 15 to stop Wind Wide Coin Inc. , an entity that says it is based in Houston, from fraudulently offering investments in a cryptocurrency trading program.

The order alleges that Wind Wide Coin...

May 11
2018

One Day After Order, Crypto-Mining Firm Stops U.S. Sales

The cryptocurrency mining company Bitcoin Trading & Cloud Mining Ltd. said it is no longer accepting investments from the United States. The company’s statement came less than one day after the Texas Securities Commissioner entered an Emergency Cease and Desist Order against the company....

May 8
2018

Two Cryptocurrency Firms Hit With Emergency Orders

Texas Securities Commissioner Travis J. Iles on May 8 entered two emergency actions against unregistered promoters who are fraudulently offering high-return investments in programs tied to cryptocurrencies.

According to the orders, Bitcoin Trading & Cloud Mining Ltd. also known as...

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