Dec 15
2014

Streamlined Electronic Filing System Available

The Texas State Securities Board today announced its participation in the nationwide online Electronic Filing Depository (EFD), a system developed to make it more efficient for issuers to offer certain exempt securities offerings throughout the United States and to improve transparency for...

Dec 12
2014

Emergency Order Entered Against Felon's Options Trading Operation in N. Texas

The Texas Securities Commissioner on Dec. 11 entered an Emergency Cease and Desist Order against Clifton Curtis Sneed Jr. of Cedar Hill, whose record includes a conviction on securities fraud charges in 2007 and related sanctions by state and federal regulators for a fraudulent investment scheme...

Nov 20
2014

Investor Alert: Risky Tradeoffs in Retirement Plan Withdrawals

State pension funds provide an attractive benefit for public-sector employees: a monthly annuity payment for life.

These benefits are attactive to investment salespeople as well. They can reap a windfall in commissions and fees by convincing public sector workers to roll over some or all...

Nov 17
2014

Investor Alert: Sidestepping Red Flags of Fraud

The State Securities Board today released a list of the most common types of fraudulent investment schemes and offered strategies to avoid becoming a victim.

Emerging red flags on this year’s list include digital currency transactions, stream-of-income investments, and new ways in which...

Sep 19
2014

Former Adviser Sentenced to 20 Years for Fraud, Theft

William Charlton Mays IV, a former investment adviser representative in Corpus Christi, was sentenced to 20 years in state prison on Sept. 18 after being convicted on securities fraud and theft charges.

Mays was sentenced to 20 years for fraud and 10 years for theft in the 214th State...

Sep 11
2014

School Employees Among Investors in Alleged Multi-Million-Dollar Fraud

Christopher Anthony Zaal of McKinney was arrested Sept. 8 after having been indicted in Collin County on charges of securities fraud and money laundering for obtaining at least $2.27 million in fraudulent investment schemes.

Zaal allegedly committed fraud when he sold promissory notes...

Mar 30
2014

North Texas Attorney Sentenced to 20 Years for Theft in Oil Royalties Scam

Frisco attorney Kelly Gordon Rogers, convicted of first-degree felony theft for stealing $1.3 million from investors in fraudulent oil and gas schemes, was sentenced to 20 years in state prison on May 28 and ordered to pay a $10,000 fine.

The case was prosecuted in Collin County State...

Feb 25
2014

Investor Alert: Risks In Investments Tied to Digital Currencies

In the wake of recent turmoil in the market for Bitcoins, Texas Securities Commissioner John Morgan today urged investors to consider investment risks associated with digital currencies.

“Although digital currencies such as Bitcoin are often touted as a sophisticated, online alternative...