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

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

Florida Man Ordered to Pay $1.2M by Arizona Securities Regulators 150 150 Rex Securities Law

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.

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