News Releases

Oct 10
2024

Commissioner Files Action Against Alleged Former GS Partners Agents - Parties Accused of Promoting New Crypto Scheme Issued by Trage Technologies

Securities Commissioner Travis J. Iles filed an Emergency Cease and Desist Order against Darrell Porter, a Minister from Killeen, Texas, and Eric Ture Muhammad, a purported “Wealth Minister” from Fairburn, Georgia. The order accused Porter and Muhammad of illegally and fraudulently offering...
Sep 9
2024

TEXAS SECURITIES BOARD SECURES FULL REFUNDS FOR TEXAS GS PARTNERS CLIENTS TEXAS AND OTHER STATES SETTLE ACTIONS AGAINST JOSIP HEIT, GS PARTNERS AND AFFILIATES

Securities Commissioner Travis J. Iles announced the Texas State Securities Board is settling claims with GSB Gold Standard Corporation AG, a German company purportedly operating in the fintech and banking industries, and GSB Gold Standard Bank LTD dba GS Partners. The settlement also names Josip...
Jun 17
2024

The Texas State Securities Board Issued Two Orders to Protect Texas Investors and Ensure Heightened Compliance with Securities Laws

Impersonating Texas companies, for example Tesla Inc., isn't the best of ideas— Emergency Cease and Desist Order. In an unrelated order, Masterworks Administrative Services, LLC, resolved its prior activities by agreeing to comply with securities law requirements and paying an administrative fine—...
May 28
2024

Securities Commissioner Warns Investors About MLM Crypto Investment Schemes

Securities Commissioner Travis J. Iles issued an Emergency Cease and Desist Order to halt a fraudulent MLM scheme that purportedly offered investments in cloud mining cryptocurrency. The order outlines the use of deceptive image and video manipulation techniques and the employment of actors to...
May 13
2024

Cristi Ramón Ochoa Named Deputy Securities Commissioner

The Texas State Securities Board on May 9 approved the appointment of Cristi Ramón Ochoa as Deputy Securities Commissioner. Ramón Ochoa joined the State Securities Board in 2016 where she served as a staff attorney in the Inspections and Compliance Division. “Cristi has a wealth of experience that...
Apr 22
2024

Commissioner Stops Digital Gold Vault Scheme Allegedly Promoted by Billionico Academy

THE ORDER ACCUSES BILLIONICO CEO FRANK DEYLE OF BEING A MEMBER OF THE ADVISORY BOARD OF SWISS VALOREM BANK, AN ORGANIZATION RECENTLY NAMED IN A FINAL ENFORCEMENT ACTION Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop an international multilevel marketing...
Feb 29
2024

Securities Commissioner Warns Retail Investors About Spoofing Investment Schemes

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop a fraudulent securities scheme that allegedly spoofs an unrelated third party.
Jan 22
2024

Texas Securities Board Settles with Abra Over National Sales of Interest-Bearing Accounts

Securities Commissioner Travis J. Iles entered a settlement in principle with a group of affiliated companies commonly known as Abra.
Dec 21
2023

Texas Investors to Receive $625,000 Refund of Unreasonable Commission Charges

The Texas State Securities Board is pleased to announce it has joined a multi-state settlement with Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. (collectively, “Raymond James”). The settlement comes as the result of an investigation into the company’s practices of...
Dec 21
2023

South Texas Agent Fined for Selling Away

Today, the Securities Commissioner entered an order fining a Corpus Christi-based agent $25,000 for selling an unapproved cryptocurrency to his brokerage clients. From in or about July 2017 through 2022, Jaime Rios, a registered agent of Money Concepts Capital Corp., engaged in outside business...