News & Publications

News Releases

Apr 9
2026

Former San Antonio-based Investment Adviser Pleads Guilty to Ten Felony Counts in Connection to Scheme Which Defrauded Texas Investors

AUSTIN, Texas — The Texas State Securities Board (TSSB) announced today its assistance to federal law enforcement authorities in an investment fraud case involving a former San Antonio-based financial adviser who has pleaded guilty to multiple felony counts. The case was investigated by the TSSB...
Apr 7
2026

Texas Deputy Securities Commissioner Orders Refund and Sanctions Firm and its Agents for Sales of GWG L Bonds

AUSTIN, Texas — Earlier today, Deputy Securities Commissioner for the state of Texas, Cristi R. Ochoa, issued three orders against Landolt Securities, Inc., Ting Chen, and Wang Chang Tsai (“Respondents”) for failures in supervising the sale of GWG Holdings Inc. (“GWG”) L Bonds to Texas investors...
Apr 1
2026

McLennan County Grand Jury Indicts Two in Alleged Ponzi Scheme Involving KS Cartel, LLC

Austin, Texas — Christian Kranenberg and Sebastian Silea were indicted by a McLennan County Grand Jury on March 19, 2026, on charges of misapplication of fiduciary property and money laundering in connection with an alleged Ponzi scheme operated through their company, KS Cartel, LLC. The...
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Enforcement Actions: Administrative

Apr 7
2026

Order No. LID-26-CAF-03

In the Matter of the Agent Registration of Wang Chang Tsai: Reprimanded and Undertaking with Refund Ordered

Apr 7
2026

Order No. LID-26-CAF-02

In the Matter of the Agent Registration of Ting Chen: Reprimanded and Undertaking with Refund Ordered

Apr 7
2026

Order No. LID-26-CAF-01

In the Matter of the Dealer Registration of Landolt Securities, Inc.: Reprimanded & Fined

All administrative actions

Enforcement Actions: Criminal & Civil

Jul 16
2025

Joshua Allen, Michael Cox, and Brooklynn Chandler Willy Indicted on Federal Charges

On July 2, 2025, a federal grand jury returned an indictment, recently unsealed, charging Joshua Allen of Lubbock, Texas, Michael Cox of Lubbock, Texas, and Brooklynn Chandler Willy, of San Antonio, Texas, each with one count of conspiracy to commit wire fraud, one count of conspiracy to commit...
Oct 29
2021

Former Registered Securities Professional Entered a Plea to Securities Fraud and other Crimes

On October 29, 2021, Derrick R. Trussell (CRD No. 5197550) entered a plea of no contest to securities fraud, securing execution of a document by deception and misapplication of fiduciary property in Cause No. 2019-CR-5767B, in the 175th Judicial District Court of Bexar County, Texas. Trussell was...
Oct 28
2021

Warning to Victims of Rare Earth Exploration LLC, Bradley Sherman Haycraft and Timothy Taylor

The Texas State Securities Board is warning investors in Rare Earth Exploration LLC about a fake financial settlement scam involving the Gordon Black & Associates Law Firm and International Corporate Entity Inc. Scammers claiming to be employees of Gordon Black & Associates are contacting investors...
All civil & criminal actions

Publications

Texas Investor Guide Cover

Texas Investor Guide

Strategies for Investing Wisely and Avoiding Financial Fraud

Nest Egg, IRA, 401k, Money

Everyone's Investment Guide

A six-part online presentation covering Making Investments, the Principles of Investing, Investing for a Secure Retirement, Planning Withdrawals, and Avoiding Scams.

Cover

Financial Field Manual

A Personal Finance Guide for Military Families

All publications