News & Publications

News Releases

May 11
2022

Texas Securities Commissioner Files Emergency Action to Stop Russian Scammers Perpetrating Metaverse Investment Fraud

Securities Commissioner Travis J. Iles filed an Emergency Cease and Desist Order, in concert with other state securities regulators to stop a fraudulent metaverse investment scheme. The order accuses Flamingo Casino Club of illegally soliciting securitized nonfungible tokens, or NFTs, that...
May 11
2022

Five States File Enforcement Actions to Stop Russian Scammers Perpetrating Metaverse Investment Fraud

Five state securities regulators simultaneously filed enforcement actions against a Russian organization allegedly promoting fraudulent metaverse investments to residents of the United States.  The actions accuse Flamingo Casino Club of perpetrating the scam through the offer of nonfungible tokens, commonly referred to as NFTs, purportedly tied to a metaverse casino. 

Apr 13
2022

What Happens in The Metaverse Does Not Stay In The Metaverse Texas Securities Commissioner Stops Metaverse Casino Securities Scheme

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop a fraudulent investment scheme tied to metaverses. The order names Sand Vegas Casino Club, Martin Schwarzberger and Finn Ruben Warnke and accuses them of illegally offering NFTs, or non-fungible tokens, to...

Enforcement Actions: Administrative

May 11
2022

Order No. ENF-22-CDO-1862

In the Matter of Flamingo Casino Club: Emergency Cease and Desist Order

Apr 21
2022

Order No. ENF-22-CDO-1861

In the Matter of Todd Prince: Agreed Order

Apr 13
2022

Order No. ENF-22-CDO-1860

In the Matter of Sand Vegas Casino Club; Finn Ruben Warnke; and Martin Schwarzberger: Emergency Cease and Desist Order

Enforcement Actions: Criminal & Civil

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...
Oct 15
2021

Larry Steve Bassett - Indicted

On October 15, 2021, a grand jury sitting in Lee County, Texas, indicted Larry Steve Bassett for first-degree securities fraud, theft and money laundering. The charges relate to his alleged unlawful sale of investments in a trading program to 15 victims for approximately $1.5M. Bassett is accused of...

Publications

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Texas Investor Guide Cover

Texas Investor Guide

Strategies for Investing Wisely and Avoiding Financial Fraud

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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.

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Cover

Financial Field Manual

A Personal Finance Guide for Military Families