March 29, 2016-Garland, Texas
The Texas State Securities Board (TSSB) announced that Derek A. Nelson was sentenced to 19 years in connection with a $37 million fraud he operated selling promissory notes through Capital Mountain Holding to unsuspecting victims, mostly from the Dallas-Ft. Worth area.
According to the release, Nelson used at least $20 million to fund the Ponzi scheme , paying earlier investors with money raised from later investors.
Here is the Collin County grand jury indictment.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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