News Releases

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...
Aug 11
2021

Anyone Can Be Anyone on The Internet Texas State Securities Board Warns About Uptick in Impersonation Schemes

The Texas State Securities Board is warning investors about a growing number of online investment schemes in which bad actors impersonate registered, licensed firms. These impersonation schemes are growing more and more sophisticated as scammers more efficiently leverage technology to defraud the...
Aug 6
2021

Alabama Securities Commission and Texas State Securities Board File Orders Fraudulent Metals Investment Scheme Managed by Defendant on Felony Probation Shuttered

The Alabama Securities Commission (ASC) and Texas State Securities Board (TSSB) issued cease and desist orders against FIRST CLASS WEALTH PRESERVATION, directing it to shut down illegal operations in Alabama and Texas. The ASC order and TSSB order accuse First Class Wealth Preservation of illegally...
Jul 30
2021

Legacy Wealth Advisors

Legacy Wealth Advisors, Inc., a Texas registered investment adviser located in Waxahachie, Texas, consented to the entry of a Disciplinary Order that will require Legacy Wealth Advisors to pay an administrative fine of $15,000. The Disciplinary Order was entered today by the Securities Commissioner...
Jul 27
2021

Recidivist Brad Haycraft Indicted in Helium Well Investment Scheme

Bradley Sherman Haycraft, 48, was indicted by a grand jury in Collin County. He was charged with illegally selling investments in the Petrified Forest Prospect, a helium well project in the Petrified Forest National Park in Arizona. He was recently arrested on the charges. The Securities...
Jul 22
2021

State Securities Regulators in Texas and Alabama Team Up to Protect Senior Investors and Put a Stop to Fraudulent Precious Metal Investments

The Texas State Securities Board (TSSB) and the Alabama Securities Commission (ASC) issued cease and desist orders against TRUE BULLION LLC DBA GSI EXCHANGE, directing it to shut down illegal operations in Alabama and Texas. The Texas and Alabama orders accuse GSI Exchange of engaging in an illegal...
Jul 1
2021

Serial Recidivist’s Joyride Speeds to a Halt

Robert Mangiafico Jr., a 55-year-old resident of Carrollton, was sentenced by the 296th District Court in Collin County to serve 20 years for evading arrest with a deadly weapon and 63 years for possession with intent to deliver GHB, a controlled substance commonly known as a date rape drug...
Jul 1
2021

Texas Stops Fraudulent Private Equity Scheme

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against Prestige Equity and others accused of illegally offering lucrative investments tied to a private equity fund. According to the order, the parties are claiming investors become limited partners in the private...
Jun 29
2021

Securities Commissioner Issues Two Administrative Orders

Texas Securities Commissioner, Travis J. Iles, entered an order today suspending the license of Dallas-based investment adviser and agent Michael E. Witt for a period of thirty days due to Witt’s inequitable business practices in connection with a former advisor sunsetting program at his prior firm...