News Releases

Kenneth Wayne Graves , a former investment adviser in Corpus Christi whose registration had been revoked by the Securities Commissioner, was sentenced to concurrent seven-year state prison terms Sept. 3 and ordered to pay $517,158 in restitution. Graves entered his pleas in Corpus Christi State...

Texas Securities Commissioner John Morgan entered a Consent Order Aug. 18 which found that Citigroup Global Markets Inc. failed to monitor the registration status of sales assistants, some of whom accepted client orders without being appropriately licensed. Citigroup was reprimanded and ordered to...

TD Ameritrade Inc. on July 27 agreed to pay a $300,000 fine to the State of Texas for failing to enforce procedures related to notification of wire transfers from certain customer accounts. Ameritrade provides brokerage services to retail investors through its Retail division as well as through its...

Securities Commissioner John Morgan entered an Emergency Cease and Desist Order June 22 against Petro-San Resources LLC and Sean Patrick Riley of San Antonio. The order alleges that Petro-San and Riley are offering to sell unregistered oil and gas investments in a Caldwell County drilling program...

Kenneth Wayne Graves, a former investment adviser representative in Corpus Christi whose license to sell securities was revoked last year by the Texas Securities Commissioner, has been indicted in Nueces County on fraud and other charges related to the sale of investment contracts to his clients and...

New research from the North American Securities Administrators Association (NASAA) finds investors are confused when it comes to the fees charged by brokerage firms to service and maintain their accounts. "Greater transparency and improved disclosure would allow investors to quickly and easily...

Jeffrey Ray Filla was arrested April 6 after having been indicted in Fort Bend County on securities fraud and other charges stemming from his sale of investments in Prophecy Fund LP, a commodities trading program whose collapse he tried to conceal with false financial statements and...

Securities Commissioner John Morgan entered an Emergency Cease and Desist Order March 25 prohibiting Lonestar Mineral Assets LLC and Kenneth Wayne McKay from illegally offering for sale unregistered investments in mineral royalty rights and not disclosing information about McKay's background, which...

Alberto Alba Villarreal , who testified in court that he had previously earned $20,000 a month as a consultant for insurance and other businesses in Mexico and the United States, was sentenced to five years in prison Jan. 16 after being convicted of theft of property for stealing money that was...