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Tag Archives: Investing

2018 Enforcement Report: Blind Faith, Fraud, And Millions Lost

When it comes to investing, blind faith can be very expensive. The State Securities Board Enforcement Report for 2018, released Feb. 7, highlights cases in which individuals took it on faith that they were putting their money into legitimate investments managed by legitimate executives. Instead, tens of millions of dollars were ...

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Texas AG Announces $575 Million Settlement with Wells Fargo

Texas Attorney General Ken Paxton today announced that Wells Fargo Bank N.A. will pay $575 million to resolve claims that the bank violated consumer protection laws in Texas, 49 other states and the District of Columbia through alleged unfair and deceptive trade practices. Texas’ share of the settlement is approximately ...

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Investor Alert: Fraudulent Notice Claims BitConnect Refunds Available

A fraudulent notice that falsely claims to be from the Texas State Securities Board is telling people they can receive partial refunds of their investment in BitConnect, an overseas cryptocurrency company, by completing a refund form and submitting a $250 fee. “This false page is an attempt to further defraud BitConnect investors,” Texas ...

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TSSB: Russian Promoters, Offshore Crypto Bank Targeted

Texas residents targeted by fraudsters Texas Securities Commissioner Travis J. Iles took emergency action Sept. 18 to stop the fraudulent offerings of investments in three separate schemes involving cryptocurrencies. Commissioner Iles entered separate emergency cease and desist orders against Coins Miner Investment Ltd., a cryptocurrency investment promoter operating in Russia; DGBK Ltd., ...

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Texas Begins Operation of Texas Bullion Depository

Texas Comptroller Glenn Hegar announced today the official opening of the Texas Bullion Depository, the first state-administered precious metals depository in the country. “We’re proud that the nation’s first state-administered bullion depository is now a reality — this is a big day for Texans who want to secure their precious ...

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TDI: Monitor Universal Life Insurance Policies

The Texas Department of Insurance is reminding consumers with universal life insurance policies to check in with their agents every year – before they face the difficult decision of paying far more or dropping the policy. “Talk to your agent now and ask how your policy is doing,” said Texas ...

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Enforcement Investigation Finds Widespread Fraud in Crypto Offerings

The Enforcement Division of the Texas State Securities Board found widespread fraud in cryptocurrency offerings during a four-week investigation of investments tied to virtual currencies. The full results of the investigation are in the 14-page report Enforcement Report: Widespread Fraud Found in Cryptocurrency Offerings. For more information on the report, contact Robert ...

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Order Filed to Stop Cryptocurrency, Marijuana Investments

Texas residents targeted Texas Securities Commissioner Travis J. Iles on April 5 entered an Emergency Cease and Desist Order against a convicted felon who is offering investments in two things that usually don’t go together: a cryptocurrency trading program and a marijuana growing operation. According to the order, the Enforcement Division of ...

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2018 Texas Investor Guide Now Available

It’s here: the 2018 edition of the Texas Investor Guide: Strategies for Investing Wisely and Avoiding Financial Fraud, fully updated to  provide you with the latest information for smart and safe investing. The 2018 edition includes new material on finding a financial professional, updated information on easy-to-assemble investment portfolios, new ripped-from-the-headlines case studies ...

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$4 Billion Crypto-Promoter Offering Fraudulent Investment Programs

The Texas Securities Commissioner has entered an Emergency Cease and Desist Order to halt the multiple investment programs operated by BitConnect, an overseas company that claims a market share of $4.1 billion for its cryptocurrency coins. BitConnect is soliciting investors for cryptocurrency-based programs that the company claims will deliver annualized returns of 100% or ...

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