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…
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CFTC Precious Metals Fraud
On Oct. 3, CFTC charged firm $1.3mn precious metals scheme. Aaron Scott conducted his scheme through BMC Worldwide, (Blue Moon Coins). Alleged Violations Firm defrauded 130 customers with contracts of sale specifically gold and silver. Defendants lied to customers, and stole their funds, resulting in $1.3mn losses. Blue Moon did not keep an inventory of precious…
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CAL INS $1mn Insurance Scam
On Sep. 25, CAL INS announced arrest of broker re false policy. Peter Muh Kim and wife Jin Kim, charged for $1mn joint life insurance scam. Three felony counts each of grand theft, and three further of insurance fraud. Peter Kim, a licensed insurance agent, allegedly sold two policies to his wife. Alleged Violations…
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SEC Charge IA for $15mn Fraud
On Sep. 14, SEC charged IA on conflicts that defrauded customers. Steele Financial and Tamara Steele sold $15mn in stock from a private company, Behavioral Recognition Systems (BRS), previously charged with fraud by the SEC. Alleged Violations Shares sold to 120 advisory clients, many of whom are current or former teachers. Steele did not disclose…
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FINRA Unregistered Crypto
On Sep. 11, FINRA charged broker for selling crypto securities. Timothy Ayre charged re unlawful distribution of unregistered security HempCoin. Alleged Violations Ayre tried to get investment in worthless public company, Rocky Mountain Ayre. Publicized as HempCoin “the first minable coin backed by marketable securities”. Ayre made and fraudulent, positive statements on RMTN business and…
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SEC Nonko Trading Fraud Charge
On Sep. 5, SEC charged two with fraud in fake trading accounts. Jeffrey Goldman and Christopher Eikenberry of Michigan, in Nonko Trading fraud. Profited from a scheme to defraud Nonko’s customers out of at least $1.4 million. Charges include fraud, aiding, abetting Nonko’s fraud, and registration violations. Allegations Nonko was marketed as a state-of-the-art platform…
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