News Releases

In 2019, the Texas State Securities Board took enforcement actions that resulted in the repayment of $2.58 million to investors and $575,000 in fines paid to the State of Texas. The funds returned to investors came through administrative orders, a civil court forfeiture order, and rescission offers...

Tin and aluminum are traditional for a 10th anniversary, but we got you a book: The 10th anniversary edition of the Texas Investor Guide: Strategies for Investing Wisely and Avoiding Financial Fraud . As always, it is free upon request, and you can obtain copies by providing a mailing address to...

Certain types of investments—and investment promoters—should always get your common sense tingling. Recognizing fraudulent and inappropriate investments is one part of the equation for safe investing. Knowing what to do — the questions to ask, the steps to take — is the second. As you wade into the...

Texas Securities Commissioner Travis J. Iles took emergency action Dec. 30 to stop an unregistered Sugar Land investment promoter from offering guaranteed returns through the trading of foreign currencies. According to the Emergency Cease and Desist Order , Onoriode Ikimi , who also goes by Steve...

The following are summaries of administrative enforcement actions the Texas State Securities Board took from Oct. 1 through Dec. 31, 2019. Timeless Protect and Associated Companies: Emergency Cease and Desist Orders Texas Securities Commissioner Travis J. Iles entered three emergency orders on Nov...

This is an Investor Alert from the North American Securities Administrators Association , the Financial Industry Regulatory Authority , and the Securities Investor Protection Corp .: It Pays to Pay Attention to Your Brokerage Account Statement How Often Should You Review Your Brokerage Account...

A hearing is scheduled for Jan. 22 at the State Office of Administrative Hearings regarding an emergency order alleging fraud by Michael E. Patman and Woodland Resources LLC in selling working interests in oil well-drilling projects. Texas Securities Commissioner Travis J. Iles on July 10 entered an...

Texas Securities Commissioner Travis J. Iles entered three emergency orders on Nov. 22 against Timeless Protect LLC , a company that claims it is erasing the risk in oil and gas offerings being marketed to investors in Texas. Timeless Protect, with offices in Florida and Ontario, Canada, is...

The State Securities Board and the Carrollton Police Department on Nov. 21 raided the Carrollton-based investment business of Robert Joseph Mangiafico Jr. (right), a career criminal currently on parole from a 40-year prison sentence for stealing $655,000 from elderly widows in the Dallas area. The...

A Florida investment adviser paid a $5,000 fine for doing work for Texas clients while not registered with the Texas Securities Commissioner. The fine and a reprimand were part of the Disciplinary Order that Commissioner Travis J. Iles entered on Nov. 5. The commissioner also granted the investment...