April 14, 2015

The SEC announced fraud charges and an asset freeze against central Texas-based Leroy Brown Jr. accused of telling false tales about his stockbroking experience to lure current and former US military personnel into investing with him.  According to the government, Brown through his firm LB Stocks and Trades Advice LLC falsely assured investors, including some stationed at nearby Fort Hood, that he had many years of experience in the securities markets when in fact he is not a licensed securities professional and his firm is not registered with the SEC, Financial Industry Regulatory Authority, or any state regulator, and they have no evident experience with investments.  SEC

Tagged in: Misrepresentations, Regulatory Violations, Securities Fraud,