Category Archives: North Carolina Securities Division

Ronald Earl McCullough-Raleigh, NC-FBI Offers Reward

charlotte_061616_1June 16. 2016-Charlotte, North Carolina

The FBI announced a $5,000 reward for assistance in locating Ronald Earl McCullough who, by portraying himself as a religious leader, was able to over a million from investors who were led to believe they were participating in an exclusive foreign currency exchange group.

McCullough fled after he was charged with conspiracy, wire fraud, mail fraud, engaging in monetary transactions and aiding and abetting.

The North Carolina Secretary of State’s office is cooperating with the FBI, along with the IRS and the US Postal Service. Call 1-800-225-5324.

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

North Carolina Securities Division July 2015 Newsletter

July  2015- Raleigh, North Carolina

The North Carolina Securities Division of the Department of the Secretary of State issues a monthly newsletter highlighting recent enforcement actions for securities violations and other matters designed to educate and protect investors.

The July 2015 Securities Newsletter, which can be accessed here, includes the following:

  • The SEC alleges that Equity Trust Company, an Ohio based IRA provider, played an  active role in marketing the investments offered by Ephren Taylor, who was charged with running a Ponzi scheme targeting church members, and Randy Poulson. The SEC charges that  Equity Trust, ignored red flags which allowed Taylor and Paulson to raise over $5 million in their scheme.
  • Kristine Louse Johnson, 60, of Aurora, Colorado, charged in criminal complaint with operating a $6.8 million Ponzi scheme through sham internet company, The Achieve Community (TAC).
  • David Christopher Mayhew convicted of mail fraud, conspiracy and money laundering.
  • Investor Alert for Seniors: Five Red Flags of Investment Fraud

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

North Carolina Securities Regulators Pursuing Securities Fraudsters

June 2015

In the June 2015 Newsletter the North Carolina Securities Division announced their involvement in the following cases:

Darren Joseph Capote, of Patterson, NY, was indicted on July 11, 2011, in Ashe County Superior Court on three Class C felony counts of securities fraud. He is alleged to have defrauded an elderly victim in Ashe County. He was released from custody on a $100,000 secured bond. His next court appearance in Ashe County has been scheduled for September 28, 2015.

Claude Darrell McDougal, formerly of Charlotte, appeared before U.S. Magistrate Judge David S. Cayer and pleaded guilty on July 24, 2014 to securities fraud for orchestrating a Ponzi scheme that defrauded his investor victims of more than $2.5 million. McDougal has been released on his own recognizance and is currently awaiting sentencing.

David Alan Topping, of Oak Island, NC, was arrested by law enforcement agents with the NC Secretary of State Securities Division on November 4, 2014 and charged with one felony count of securities fraud. The Brunswick County Sheriff’s Office also charged Topping with one felony count of obtaining property by false pretenses and one misdemeanor charge for solicitation to obtain property by false pretenses. Topping is alleged to have defrauded multiple victims out of more than $100,000. He is currently out of jail on a $250,000 unsecured bond.

UPDATE ON CHARLES FACKRELL-MARCH 30, 2016

UPDATE ON CHARLES FACKRELL-December 2016-Charles Fackrell, 37, of Booneville, N. Carolina was sentenced to 63 months in jail according to the U.S. Attorney’s Office for operating a $1.4 million Ponzi scheme.

Charles Caleb Fackrell, of Booneville, NC, was arrested by the Yadkinville Police Department in December, 2014 and to date has been charged with seven felony counts of obtaining property by false pretense. He is currently in the Yadkin County Detention Center under a $2.5 million secured bond.

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

North Carolina Securities Regulators Announce Sentencing of Securities Fraudsters

June 2015-NC Securities Division

The North Carolina Securities Division‘s June 2015 Newsletter announced the sentencing of the following individuals for securities related violations:

  • Michael Anthony Jenkins pleaded guilty to three counts of felony securities fraud and one count of felony obtaining property by false pretenses. His offenses included defrauding over 435 victims of 1.8 million though his company Harbor Light Asset Management. His victims believed they were trading commodity futures. Jenkins faces a minimum sentence of nine years eight months up to over 13 years.
  • Operation Wax House was a mortgage and investment fraud scheme that operated in Mecklenburg and Union Counties from 2005-2012. –James Tyson, Jr., of Charlotte was sentence tho 30 years. Carrie Tyson, 61, of Winterville, N.Carolina was sentenced to 18 years. Victoria Hunt, 36, of Rockville, Maryland was sentenced to 8 years and Vonetta Tyson Barnes, 41, Mililani, Hawaii was sentenced to 30 days. Toby Hunter, 39, of Fort Mill, South Carolina was sentenced to 108 months for his role as chief investment officer of Operation Wax House.

More details can be found in the June 2015 Newsletter which can be accessed here.

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

Gastonia Resident Charged with Securities Fraud by North Carolina Regulators

March 12, 2015-North Carolina

The North Carolina Securities Division of the Department of the Secretary of State announced that Micah Christopher Wilson, 59, of Gastonia was charged with felony securities fraud for defrauding victims out of hundreds of thousands of dollars.

Investigators allege that Wilson guaranteed victims that they would earn at least 8% interest in an investment sold through his company Creative Financial Concepts, Inc. Instead Wilson converted the funds to personal use and used them to pay out to earlier investors in a Ponzi scheme.

Wilson was placed into custody in Gaston County Jail under a $1 million bond. Victims are urged to contact the Secretary of State’s Securities Fraud Division  at 800-688-4507.

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

North Carolina Securities Division Issues Dec 2014 Newsletter

December 22, 2014

The North Carolina Securities Division issues a monthly Newsletter highlighting various securities matters. The December 2014 issue  can be accessed here.

The following cases are ones in which the NC Securities regulator has had some involvement:

  • Darren Joseph Capote, of Patterson, NY, was indicted on July 11, 2011, in Ashe County Superior Court on three Class C felony counts of securities fraud. He is alleged to have defrauded an elderly victim in Ashe County. He was released from custody on a $100,000 secured bond. His next court appearance in Ashe County has been scheduled for March 9, 2015.
  • Michael Anthony Jenkins, of Raleigh, NC, was served on August 17, 2012, with three felony arrest warrants for securities fraud. Investigators with the Secretary of State Securities Division allege that Jenkins told investors he would use their funds to trade commodities futures or “E-mini futures” through his company, Harbor Light Asset Management, LLC. Investigators allege Jenkins instead converted funds to his personal use and used money from later investors to pay earlier investors in what is commonly referred to as a Ponzi scheme. Jenkins is in the Wake County Jail under $500,000 secured bond. During his first hearing on August 20, 2012, the prosecutor told the court that there are 377 known victims of Jenkins’ approximately $1.79 million Ponzi scheme. The Securities Division’s investigation is continuing. Anyone who has made investments with Harbor Light Asset Management, LLC is asked to contact the Securities Division at (800) 688-4507 or (919) 733-3924.

The public’s help is requested with regard to:

  •  The on-going criminal investigation of Charles Caleb Fackrell of Yadkinville, NC, the NC Securities Division asks that any person who may have invested with Mr. Fackrell or his company, Fackrell Trivette Wealth Management, LLC, please to contact the Division immediately at (800) 688-4507.Anyone wishing to file a complaint against Mr. Fackrell or his company may do so by submitting a complaint form located on the NC Securities Division’s website.

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

Mark Burgin of Tampa Pleads Guilty to Securities Fraud

November 12, 2014- US Attorney for Western District of North Carolina. Mark Burgin, 44 of Tampa, FL, pleaded guilty to securities fraud conspiracy for promoting a fraudulent investment known as “Pink Lady” Bonds which he promoted with Charles Abrams, 52, of Huntersville, N.C., who also faces charges.

The two men claimed they had purchased the rare bonds in 2010 in Los Angeles. They told one victim that the bond was being sold for $1.9 billion.

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