September 26, 2014
The Securities and Exchange Commission (SEC) recently charged three insurance agents in a multi million dollar offering fraud which targeted elderly citizens that owned annuities.
The insurance agents named are:
- Kenneth C. Meissner Fair Oaks Branch, Texas
- James Doug Scott Perkasie, PA
- Mark S. “Mike” Tomich Belmont, Michigan
According to the proceeding, these brokers raised money by selling interests in a company called Arete, LLC, which was controlled by Gary Snisky, who the SEC charged in the scheme last year. The insurance agents told their elderly victims that Snisky would purchase government backed bonds with invested funds. Per the SEC, Snisky did not purchase bonds but used the money for personal expenses and to pay commissions.
David C Sorrells, of Linden, TX, entered into a cooperation agreement with the SEC, agreeing to be barred from the industry and pay over $207,000 in disgorgement.
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.
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