News Releases

Nov 3
2021

What Happens In Las Vegas Stays In Las Vegas… Unless It’s a Fraudulent Gambling Investment Scheme Targeting Texans.

On November 3, 2021, Securities Commissioner Travis J. Iles entered an emergency cease and desist order against Paganelli Enterprises, LLC, Christopher Dino Paganelli and AP Hedge. According to the order, the parties are located in Las Vegas but have been fraudulently soliciting Texas residents to...
Nov 2
2021

Risky Whiskey - Securities Commissioner Stops International Investment Scheme

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop an illegal international whiskey investment scheme. The order names Whiskey & Wealth Club Limited, a firm based in England and Scotland, as well as its principals and sales agents. According to the order...
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...
Oct 4
2021

Mejdi Mahmoud Abousaoui: Guilty Plea

Mejdi Mahmoud Abousaoui was sentenced to serve 25 years in state prison after pleading guilty to first-degree securities fraud. Abousaoui paid $210,454.70 in up-front restitution and was ordered to pay the remaining balance of $2,803,271.56 of outstanding restitution. Abousaoui was prosecuted in the...
Sep 17
2021

Securities Commissioner Stops Illegal Bank Leveraged Forex Program

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop Graco Commercial Capital, LLC, and Raymond V. Grant from illegally offering investments in a bank leveraged forex trading program. Grant and Graco Commercial, operating from Greeley, Colorado, are accused of...
Sep 16
2021

Texas Securities Board Stops Another Online Impersonation Scam

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop Riek Capital from illegally promoting fraudulent investments in trading programs. The order also accuses the company of engaging in an impersonation scheme – alleging Riek Capital is misappropriating the...
Sep 15
2021

Securities Commissioner Files Action to Stop Plantersville Crypto Promoter

Securities Commissioner Travis J. Iles filed an emergency cease and desist order against Immortal Assets and its owner, Michael Wichkoski. The parties, purportedly operating from Plantersville, Texas, are accused of promoting an illegal cryptocurrency trading program. The order accuses respondents...
Sep 14
2021

Texas Stops Sex Offender’s Fraudulent Real Estate Deal

She was prosecuted for aggravated sexual assault of a child and is a registered sex offender. She’s now accused of concealing her past while promoting fraudulent real estate investments. Securities Commissioner Travis J. Iles filed an emergency cease and desist order to stop the scheme and protect...