MAY 2019 UPDATE
According to a press release issued by the Department of Justice, Thurman Bryant III, 46, of Frisco and Arthur Franz Wammel, 46, of Houston, were found guilty of wire fraud following a two week jury trial. Bryant and Wammel each face up to 20 years in federal prison.
May 2017-Frisco, TX
On May 15, 2017, the Securities and Exchange Commission filed an emergency action to halt a fraudulent investment scheme which has raised nearly $23 million from 100 investors.
The action alleges that Frisco, Texas resident Thurman P. Bryant, III and his company, Bryant United Capital Funding, Inc. (BUCF), have raised approximately $22.7 million from nearly 100 investors. These investors were falsely promised a risk-free, guaranteed minimum 30% annual returns on investments that Bryant would supposedly make in the mortgage industry. Bryant and BUCF also allegedly sent investors monthly statements apparently showing that their initial investment monies were safe in an escrow account.
The SEC alleges that Bryant used $4.8 million to cover personal expenses, including rent and luxury car payments, a housekeeper, meals and groceries, private school tuition, horse riding expenses, and for an apartment; used approximately $16.1 for high-risk securities trading among other things. The SEC also alleges that the monthly account statements were fraudulent.
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.
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