On Oct. 17, SEC charged IA with stealing from family and friends.
- Bruce Fixelle solicited investments from friends met at a community organization.
- Investment adviser history of defrauding, of close friends and community members.
Alleged Violations
- Claimed to friends, he would invest their money in initial and secondary offerings.
- After investing in offerings, would then sell the holdings before end of trading day.
- Fixelle said strategy was safe and successful, but in fact, did not invest any funds.
- Allegedly used the money, to pay mounting personal debt and personal expenses.
Prior Enforcement
- 2014, Fixelle and Genesis Advisory Services fined $1.5mn redress, interest, fine.
- SEC continuing investigation being litigated, assisted Bergen County Prosecutor.
