News Releases

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...
Nov 16
2023

GS Partners And Josip Heit’s Fraud Exposed by U.S. and Canadian Regulators

Securities Commissioner Travis J. Iles filed an emergency enforcement action to stop an ongoing international investment scheme threatening immediate and irreparable public harm.

Nov 15
2023

Securities Board Continues Protecting Texans from A.I. Fraud

Commissioner Travis J. Iles Announces Actions to Stop Two Artificial Intelligence Schemes An action was filed against 9xProfits Limited, Lucas Morris and others that allegedly offered investments that purportedly paid fixed, lucrative returns – in some cases, as high as 1.5% per day. According to...
Oct 5
2023

Commissioner Stops Crypto Fraud Purportedly Linked to Russian Government Assets

BigWhale.Io Allegedly Promised Significant Profits but Now Claims Hack Led to Loss of Investor Assets Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop sales of securities tied to a decentralized lending pool deployed on the Binance blockchain. BigWhale.io...
Sep 27
2023

Texas Leads Nationwide Action Against Precious Metals Firm

Agency Leadership Ensures Clients Can Receive Return of Principal Securities Commissioner Travis J. Iles announced the Texas State Securities Board’s settlement of claims with True Bullion LLC DBA Gold Silver International Exchange DBA GSI Exchange LLC and its principal, Anthony Anderson. The...