Category Archives: Arizona Corporation Commission Securities Division

Tucson Couple Ordered to Pay $5 Million in Catharon Software Securities Offering

February 3 , 2015- Tucson, Arizona

The Arizona Daily Star reports that the Arizona Corporation Commission ordered Michael and Betsy Feinberg and their company, Catharon Software, Inc. to pay $4.9 million in restitution plus a penalty of $250,000, to resolve charges that they defrauded investors with an unregistered securities offering.

According to the press release, the Feinbergs told investors Catharon would generate $2 billion in revenue in three years yielding returns in excess of 400%. The Commission found that the Feinbergs failed to disclose to investors their use of investor money for personal expenses.

If you invested in Catharon Software upon the recommendation of a registered stock broker, you may be able to recover damages from the broker’s firm. Call for details.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Bryan Anderson, Hoover, Alabama Pleads Guilty–Ponzi Scheme

December 29, 2014-Birmingham, Alabama

Bryan W. Anderson, 40, of Hoover was charged with fraud and money laundering for allegedly operating a Ponzi scheme that cost victims over $3 million, according to US Attorney Joyce White Vance and Alabama Securities Commission Director Joseph P. Borg.

Anderson pleaded guilty to the charges and agreed to pay restitution.

From ABC3340.com:

“For years this defendant lied about investment options, risks and potential returns so that unwitting investors would continue to put their hard-earned money into his fraudulent scheme,” Vance said. “When his Ponzi scheme collapsed, as they always do, the people who trusted him lost millions. I applaud the hard work of the FBI, Alabama Securities Commission and Hoover Police Department, along with Assistant U.S. Attorney J. Patton Meadows, which led to the prosecution of this case.”

“This case is a classic Ponzi scheme, as Anderson used false promises and fake returns to steal millions of dollars from his victims,” Schwein said. “Consumers looking to invest are encouraged to review www.investor.gov , which helps investors recognize scams and avoid fraud. The public can be assured that the FBI will continue to use our resources and work closely with our partners to expose perpetrators and vindicate the victims of complex financial frauds.”

“The Alabama Securities Commission is gratified to see justice imposed for the crimes that Bryan Anderson committed against innocent citizens of Alabama and other states; of course, no punishment can take away the loss and hurt to the investors who were victimized,” Borg said. “We are grateful and want to thank the Hoover Police Department, the FBI and the U.S. Attorney’s Office for the Northern District of Alabama, in addition to the ASC staff, for successfully partnering together to ensure justice was served in this case. The strong law enforcement response to this crime should serve as notice to other scammers out there that they should stay out of Alabama or expect prosecution and imprisonment.”

Alabama Securities Commission

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Florida Man Ordered to Pay $1.2M by Arizona Securities Regulators

November 5, 2014- The Arizona Corporation Commission Securities    Division found Karl Henry Rehberg of Florida, also known as Shawn Pierce, Randall Duane Simonson of Scottsdale, AZ , and Seed Corporation liable for securities fraud in connection with the sale of a promissory note and stock.

Simonson and Seed Corp, while not registered to offer or sell securities in Arizona, raised $1.6 million to develop an energy efficient storage facility in Mesa, AZ. Rehberg, fleeing from a $20 million securities fraud in Florida, misrepresented his identity to investors conceal his criminal past , and was also not registered to offer or sell securities in Arizona.

Rehberg was ordered to pay restitution of $1.2 million and assessed a fine of $50,000.

The Commission’s order can be viewed here. 

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900