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Day Trader Enjoined, Sanctioned and Barred for Misappropriating Investor Funds
SEC v. Mark R. Hamlin, Kingdom First Trading, LLC, and Kingdom First Corp.
- 2009
- $1,592,268
Defendant Hamlin, while acting as an unregistered investment adviser and through his “Kingdom First” entities, was found to have offered and sold securities to at least 90 investors and raised approximately $2 million. He allegedly represented to investors that he was a day trader and that he would invest their funds in the stock market, but invested only $1,248,370 of the approximately $2 million raised and misappropriated the rest, including for personal expenses. In addition, most of the money used for trading was lost.
