Mar 7

Medical Device Promoter Ordered to Stop Investment Offering

Texas Securities Commissioner Travis J. Iles took emergency action on March 7 to stop Randall Johnson , the president of a Georgetown wellness company, from fraudulently offering investments in a machine that Johnson claims to be “the most advanced early screening system” for primary care...

Feb 22

Commissioner Fines Crypto-Investing Firms, Obtains Repayment for Investors

Utah-based firms that illegally sold unregistered cryptocurrency-mining investments paid a $25,000 fine to the State of Texas and will offer Texas residents full repayment of any money they invested.

Under the terms of a Feb. 21 Order , NUI Social LLC, Mintage Mining LLC, and related...

Feb 7

2018 Enforcement Report: Blind Faith, Fraud, and Millions of Dollars Lost

When it comes to investing, blind faith can be very expensive.

The State Securities Board Enforcement Report for 2018 , released Feb. 7, highlights cases in which individuals took it on faith that they were putting their money into legitimate investments managed by legitimate executives...

Jan 28

Following State Criminal Cases, SEC Sues N. Texas Trio in $44 Million Fraud

The Securities and Exchange Commission has sued three individuals for operating a complex web of real estate development companies in North Texas that defrauded investors of at least $44 million.

The SEC civil action , filed in U.S. District Court in Dallas on Jan. 25, follows criminal...

Jan 9

Order the 2019 Texas Investor Guide

The 2019 edition of the Texas Investor Guide is here, so the sooner you order copies the sooner you'll be able to start the new year with the unbiased, no-nonsense guidance you need to invest wisely and avoid financial fraud.

Regardless of income, age, or overall fiscal health, the...

Dec 31

Administrative Action Report Oct-Dec 2018

The following are summaries of administrative actions the Texas State Securities Board took from Oct. 1 through Dec. 31, 2018:

GoForex Group AKA Go Forex Group, Mary A. Scott, and Sharon Henderson: Emergency Cease and Desist Order

Texas Securities Commissioner Travis J. Iles on Oct. 10...

Nov 28

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

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

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

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

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

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

Administrative Actions 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

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

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

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

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

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

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

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

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...