- 2009
- $1.5 Million
Defendants operated a fraudulent offering scheme that raised at least $620,000 from at least 26 investors, many of whom were retired police officers and firefighters, while acting as unregistered investment advisers. Investors were told that their funds would be invested in stocks and options, but instead they were misappropriated for defendant Thomas’s personal use. Thomas also was administratively barred, and sentenced to six years in prison.
