May 22
2017

Dback Capital Inc. of Dallas and its president, Kenneth Edward Shelton, agreed to stop violating the law by selling stock in two companies to Texas residents.

Texas Securities Commissioner John Morgan entered the Agreed and Cease Desist Order on May 22.

Neither Dback Capital nor Shelton are registered in any capacity to sell securities in Texas. The investments – shares in Intertech Solutions Inc. and Preston Corp. –are not registered for sale in Texas. Dallas-based Preston Corp. provides financing to gold-mining companies.

The order is the second sanction involving Intertech Solutions, which is based in Scottsdale, Ariz. In a 2016 Agreed Cease and Desist Order Intertech Solutions agreed to stop selling its shares to Texas residents.

In the 2016 order, Intertech sold shares through DBack Capital and Shelton.