March 2, 2015
A Criminal Information was filed by the United States of America vs. Joshua Ray Abernathy, of Norfolk Virginia, charging him with mail fraud, unlawful monetary transactions and seeking criminal forfeiture. USA v. Abernathy, US District Court For the Eastern District of Virginia, Norfolk Division, Criminal No. 2:15cr 21.
According to the complaint, Abernathy, a licensed securities broker and financial advisor operated his fraud through his company Omega Investment Group , from September 2008 through October 2014, he solicited funds from clients and investors for investment in stock options and unlawfully misappropriated those funds for personal use.
The victims, according to the Criminal Information, include:
- A 75 year old widow from Texas who entrusted her retirement funds to Abernathy who concealed his fraud by providing fraudulent statements
- A single mother from Texas who cashed in her retirement funds with the U.S. Postal Service and invested with Omega. Abernathy concealed his fraud by providing fraudulent statements
- An individual from Texas who met Abernathy at church who transferred his retirement funds to Omega believing he was investing in a strategic investment fund. Abernathy concealed his fraud by providing fraudulent statements
The Criminal Information lists numerous other victims from Texas and Virginia with similar circumstances and in all cases the victims were provided with fraudulent statements. Losses are estimated to be about $1.3 million.
FINRA records indicate that Abernathy has been permanently barred from the industry. He was previously registered with the following broker-dealers:
- The O.N. Equity Sales Company 2/2013-8/2014
- NEXT Financial Group 3/2007-8/2012
- MML Investors Services 2/2005-4/2007
If you had an account with Abernathy that suffered damages, contact us to learn how you may be able to recover all or a part of those losses from the broker-dealer Abernathy worked for at the time.
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.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900