At Baylor when I was.
Here's the DOJ announcement about it. The same man filed for bankruptcy in 2005 and then tried to evade creditors. How would anyone hire a financial adviser who'd filed for bankruptcy with a record like this online? He had also been barred from acting as a broker by FINRA in 2015.
https://www.justice.gov/usao-sdtx/pr/bellaire-man-charged-ponzi-scheme
____________ would allegedly tell investors their money was being invested in various projects, such as restaurants, movies, insurance contracts, among other things. The indictment alleges ________received more than $10 million from investors, many of whom believed ___________ was investing their money in legitimate projects. According to the allegations, ________ used investor funds to pay earlier investors in a Ponzi Scheme, pay himself and fund his lifestyle.
__________ also concealed from his clients that the Financial Industry Regulatory Authority (FINRA) had barred him from acting as a broker or otherwise associating with a broker-deal firm in October 2015, according to the indictment.
If convicted, he faces up to 20 years in federal prison for each count as well as a thousands of dollars in possible fines.
Here's the DOJ announcement about it. The same man filed for bankruptcy in 2005 and then tried to evade creditors. How would anyone hire a financial adviser who'd filed for bankruptcy with a record like this online? He had also been barred from acting as a broker by FINRA in 2015.
https://www.justice.gov/usao-sdtx/pr/bellaire-man-charged-ponzi-scheme
____________ would allegedly tell investors their money was being invested in various projects, such as restaurants, movies, insurance contracts, among other things. The indictment alleges ________received more than $10 million from investors, many of whom believed ___________ was investing their money in legitimate projects. According to the allegations, ________ used investor funds to pay earlier investors in a Ponzi Scheme, pay himself and fund his lifestyle.
__________ also concealed from his clients that the Financial Industry Regulatory Authority (FINRA) had barred him from acting as a broker or otherwise associating with a broker-deal firm in October 2015, according to the indictment.
If convicted, he faces up to 20 years in federal prison for each count as well as a thousands of dollars in possible fines.
