News Releases

Nov 24
2020

Commissioner Stops Fraudulent Scheme Promoted to Reddit Users

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop a fraudulent scheme promoted through Reddit, a popular social media platform. Reddit permits users to share links, text posts, and images, and to correspond through private messages. It is one of the most...
Nov 20
2020

Commissioner Stops Local Firm from Fraudulently Marketing Forex Investments, Making False Claims of Registration and Legitimacy

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop a newly incorporated local firm from fraudulently soliciting investments in managed forex accounts. The order names KP Financials, LLC, from Austin, Texas. The firm was incorporated in June 2020, but it is...
Nov 19
2020

Commissioner Announces Series of Sweeping Actions Against Fifteen Online Crypto, Forex and Binary Options Investment Scammers

Securities Commissioner Travis J. Iles announced a series of enforcement actions against fifteen fraudulent online investment scammers. The first emergency cease and desist order names ten internet investment platforms and links one individual - James Blundell - to the scheme to broadly promote...
Oct 16
2020

Pay [Back] Day: Commissioner Suspends San Antonio Investment Adviser for Unregistered & Unsuitable Sales & Orders $2.75 Million Back to Texas Investors

Brooklynn Chandler Willy of San Antonio, Texas, agreed to a one-year suspension of her license as an investment adviser representative with the Securities Commissioner and to pay back $2.75 million of commissions she received for the sale of alternative investments. The suspension and return of...
Oct 1
2020

No Procedures, No Trading: Commissioner Suspends Investment Adviser & Its Representative for not having Procedures to Prevent Trading Inequities

John Stuart, the sole owner and investment adviser representative of Ironwood Wealth Management, LLC agreed to a three-month suspension of his and his firm’s license with the Securities Commissioner. The suspension is part of a disciplinary order that Texas Securities Commissioner, Travis J. Iles...
Sep 30
2020

Convicted Burglar Exposed – Texas and Washington Stop Criminal Promoting Fraudulent Cryptocurrency Software Scam

Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against Devon Tyler Shigaki, a resident of the State of Washington. Shigaki controls TradeMining, Inc., and they are accused of illegally soliciting Texas residents to purchase a fraudulent investment tied to...
Sep 9
2020

Small Town, Big Problem: Commissioner Revokes Investment Adviser Representative from Mt. Enterprise, Texas

Kim Diane Butler, of Mt. Enterprise Texas, agreed to the revocation of her license as an investment adviser representative with the Securities Commissioner. The revocation is part of a disciplinary order that Texas Securities Commissioner, Travis J. Iles entered on September 9, 2020. From 2015...
Sep 3
2020

Don’t Respond to the Birdsong: Securities Commissioner Takes Action to Stop Forex Birds, Others Accused of Fraudulent Securities Offerings

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against Forex Birds, LTD and PEK Universe for fraudulently offering online investments tied to forex and cryptocurrencies. The action also named Kumar Babu Bondesi and Darwin Eric Balusek – the who uses the nickname...
Sep 2
2020

Investors Warned to Be Wary of Online Schemes by Parties Impersonating Registered Firms and Persons

Cybercriminals, hackers and other malicious online actors present a variety of threats to the public. They’re continuously perpetrating new types of phishing and spoofing scams and developing upgraded trojans, keyloggers, ransomware and other forms of destructive software. These threats are...