News Releases

Apr 28

Avoid These “Investment Plans” When Planning Your Investments

The Texas State Securities Board is warning investors about unregistered online platforms defrauding the public through the sale of so-called “investment plans.” These investment plans often sound appealing – they tend to be tied to blockchain technology, artificial intelligence or foreign currency...
Apr 16

Securities Commissioner Issues Order Stopping Fraudulent Cryptocurrency Trading Program

Securities Commissioner Travis J. Iles entered an emergency cease and desist order to stop offers of a fraudulent cryptocurrency trading program in Texas. The action names Bitles Limited and Janis Lacis, its principal, and C3 Data Services and Edward Carter, its principal. Bitles and Lacis are...
Apr 15

Dennis Keith Sanders: Guilty Pleas

On February 24, 2021, Dennis Keith Sanders, from Brenham, Texas, pleaded guilty to first degree securities fraud , theft , and money laundering . He was ordered to serve ten years of deferred adjudication community supervision, conditioned on his payment of more than $400,000 in restitution. The...
Apr 1

Firm Agrees to a Refund and Fine for Unreasonable Supervisory System

Independent Financial Group, LLC, as part of a Consent Order that Texas Securities Commissioner, Travis J. Iles entered on April 1, 2021, agreed to refund $276,398.42 to the customers of a former Texas-based representative who implemented a high-risk trading strategy in leveraged exchange-traded...
Mar 18

Commissioner Stops Illegal, Fraudulent and “Dirty” Securities Offering

Securities Commissioner Travis J. Iles entered an emergency cease and desist order against Larry Scott Rogers, from Montgomery and Conroe, Texas. The order accuses him of illegally and fraudulently offering securities to Texans. The order also names D&S Recruiting DBA Legacy Leads, a business...
Mar 17

Securities Commissioner Stops Another Online Forex and Cryptocurrency Scam

Securities Commissioner Travis J. Iles entered an emergency cease and desist order against DailyForex247, an online investment platform, and Ghulam Wardag, its senior account manager. The order accuses the parties of perpetrating an online scam tied to forex trading and cryptocurrency mining...
Mar 15

Commissioner Issues Two Orders Stopping Three Online Investment Scams

Securities Commissioner Travis J. Iles entered a pair of emergency cease and desist orders targeting three unregistered online cryptocurrency and alternative asset investment platforms. The actions stop illegal so-called get-rich-quick schemes fraudulently touting the payment of significant returns...
Mar 15

Attention Investors –, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline April 30, 2021

A publication of the Texas State Securities Board March 15, 2021 The State of Texas and other state securities regulators and enforcement agencies, along with the Commodity Futures Trading Commission, recently filed a joint civil enforcement action against, Tower Equity, Chase Metals...
Dec 21

Texas Stops Fraudulent “Amazon Store” E-Commerce Partnership Scheme

Securities Commissioner Travis J. Iles filed an emergency action to stop a fraudulent investment scheme tied to an online liquidation business based in Austin. The order accuses Christopher Koozekanani of illegally marketing “secured” partnership interests issued by Prime Liquidators – an online...
Dec 2

No Reasonable Basis. No Registration. Commissioner Denies Adviser’s Registration Due to Unsuitable Trading in leveraged ETFs

Lyle Boudreaux of Houston, Texas consented to the denial of his registration as an investment adviser and agent with the Securities Commissioner. The denial is part of a consent order that Texas Securities Commissioner, Travis J. Iles, entered on December 1, 2020. From February 2016 through April...