September 2021- Austin, TX
Texas Securities Commissioner Travis J. Iles, of the Texas State Securities Board entered an emergency cease and desist order to stop Riek Capital (aka Riek Capital Investment, aka Riek Capital Distributors) from illegally promoting fraudulent investments in trading programs. The Texas State Securities Board (TSSB) is responsible for administering and enforcing the Texas Securities Act.
In the order the TSSB alleges that Riek Capital is misappropriating the identity of a FINRA registered person, Brage W. Golding and using his credentials to falsely claim legitimacy. According to the TSSB, Riek is using Golding’s name and FINRA CRD number in its promotional materials to falsely identify Golding as President, Chief Trader, CEO and Fund Manager of Riek Capital.
According to the Order:
- Riek purports to operate from Manchester in the United Kingdom and published an ad in Dealstream, an online marketplace, with 100,000 members from 100 countries, including members in Texas, using the ad to promote lucrative investments tied to binary options, forex and crypto.
- Riek promoted lucrative returns including claims a principal investment of $21,000 in the ‘Gold Plan’ would pay as much as 6%, per week. Riek claims the returns are guaranteed, regardless of actual performance.
- Riek is not registered to sell securities in Texas.
Also named in the order are the following individuals, none of whom are registered to sell securities and all of which have addresses in the United Kingdom:
- Joshua Oj Robertson
- Nicolai A. Andresen
- Robert Costomoris
- Katherine C.B. Cullum
- Steve Welch
- Jeffery T. Winter
- Marcus D. Leon
- John M. Willock
- Gareth M. Cope
If you have losses in an account with Riek Capital and you opened the account as a result of a recommendation made by a FINRA registered broker, you may be able to recover damages from that broker’s employer, call to discuss with an experienced securities attorney.
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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