Category Archives: Tennessee Securities Division

Brad Moss of Murfreesboro Indicted Again on Investment Scam

January 16, 2015-Wilson County, Tennessee

Brad Joseph Moss, 44, of Murfreesboro was indicted for the 10th time, according to the Lebanon Democrat and Wilson County News. This time it is for one count of theft of more than $250,000. HIs previous indictments are for forgery and theft in connection with various schemes, including the purported construction of a car wash.

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

Center Street Securities Broker Jason Lamb Sanctioned Over Sale of GWG Debentures

Nashville, TN-8/12/2014

Jason Price Lamb of Nashville, TN, was recently sanctioned by the Financial Industry Regulatory Authority (FINRA) for in connection with the sale of GWG Renewable Secured Debentures.  In the Letter of Acceptance Waiver and Consent , FINRA found that Lamb served as Chief Compliance Officer (CCO) at Center Street Securities and that he failed to adequately supervise certain sales of GWG Renewable Secured Debentures, an illiquid high-risk alternative investment.

Center Street has 4 independent registered representatives operating from 67 branch offices nationwide. As CCO, Lamb was responsible for the firm’s compliance functions. FINRA found that Lamb failed to recognize transactions that contained red flags, including:

  • Lamb approved purchases of GWG Debentures with conservative investment objectives
  • Lamb approved Debenture purchases that resulted in a high concentration of a customer’s total investable assets, which exceeded the firm’s internal guidelines in some instances
  • Lamb approved a Debenture sale where the application misrepresented the liquidity of the Debenture

Lamb was suspended from association with any FINRA member in a principal capacity for two months and fined $10,000.  In July 2014, Center Street Securities was fined $100,000 for making sales of the GWG Debentures to persons for whom the investment was not suitable and for allowing excessive concentration levels.

GWG Renewable Secured Debentures– These investments are described in the prospectus as being illiquid, speculative and involving a high degree of risk, including the risk of losing the entire investment. There is no trading market for the GWG Debentures and investors cannot access their principal prior to maturity , absent death, bankruptcy, or total disability.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  in Tennessee and 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.

Rex Securities Law

561 391 1900

Tennessee Securities Division Offers Resources for Investors

The Tennessee Securities Division of the  Department of Commerce and Insurance ,  regulates the securities industry in Tennessee. According to their website: 

“The Tennessee Securities Division enforces the Tennessee Act of 1980 to maintain the integrity of the securities market and to protect investors.

The Division also promotes investor education and the prevention of fraud in the securities industry.”

The Investor Education page which is regularly updated offers Tennessee residents valuable resources to help investors protect themselves and avoid securities fraud.

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