March 5, 2019

BB&T Securities, the North Carolina-based successor in interest to Valley Forge Asset Management, has agreed to pay more than $5 million in restitution to investors defrauded by Valley Forge. According to the SEC, Valley Forge misled would-be investors into choosing them as a broker by false promising a 70% discount from its supposed retail commission rate. In reality, however, Valley Force was charging about 4.5 times more than what customers would have paid elsewhere. SEC

Tagged in: Financial and Investment Fraud,