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AL Man Charged With $1.5M Securities Fraud Involving Church

Terry Earl Hester of Pike County, Alabama was charged with violating the Alabama Securities Act after allegedly making false promises to a Tuscaloosa County church involving $1.5 million in funds. Hester turned himself into authorities on June 15. The charges are the result of a six-count indictment by a Tuscaloosa County grand jury, according to a statement made by the District Attorney's office and Joseph Borg, Director of the Alabama Securities Commission. The indictment charges Hester with one count of Sale of Unregistered Securities and one count of Sale of Securities by an Unregistered Agent. Each charge carries a fine of up to $15,000 upon conviction. Additionally, Hester is charged with four counts of Fraud in Connection with the Sale of Securities for making untrue statements or, or omitting to state, material facts to an investor; for engaging in an act, practice or course of business which operates as a fraud or deceit upon an investor; and for employing [...]

By |July 11th, 2016|Fraud, Press Releases & News|
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Alabama Man Sentenced For Securities Fraud

Keith Michael Rogers of Huntsville, Alabama was sentenced by Madison County Circuit Court Judge Alison Austin to three years in prison for securities fraud. He received a ten year split sentence and will serve three years and has seven suspended. Judge Austin also ordered Rogers to pay $1.7 million in restitution. The sentencing follows Rogers' guilty plea in March in which he admitted to using his clients' investment money in a Ponzi scheme. The plea included one count of securities fraud. According to authorities, Rogers took more than $2.5 million from his investors and was using the money for his personal expenses and using funds from new clients to pay back earlier clients in classic Ponzi fashion. According to Madison County Assistant District Attorney Jay Town, Rogers' clients included former University of Alabama running back Kenneth Darby. According to FINRA's BrokerCheck, Rogers has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to [...]

By |May 27th, 2016|Broker Check, FINRA, Fraud, Press Releases & News|
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AL Man Indicted For Alleged Securities Fraud

Jason Todd Caudle of Sylacauga, Alabama has been indicted for alleged securities fraud, following a March 11, 2016 arrest. The grand jury issued a five-count indictment. On the same day, Caudle posted a bond of $250,000 and was released. Caudle then failed to appear for his arraignment on April 5, 2016 and was arrested again and returned to the Talladega County Jail on April 19, 2016. The grand jury's indictment charged Caudle with one count of Sale of Unregistered Securities and one count of Sale of Securities by an Unregistered Agent; which are Class C felonies, carrying a range of punishment from one year and one day to 10 years’ imprisonment and not more than a $15,000 fine per charge, upon conviction. Additionally, the indictment charges Caudle with three counts of Fraud in Connection with the Sale of Securities for making misrepresentations or omissions of material fact to an investor; for engaging in an act, practice or course of business which operates as a fraud or [...]

By |April 29th, 2016|Fraud, Press Releases & News|
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Kansas Man Sentenced For Securities Fraud

Dennis D. Bailey of Bel Aire, Kansas has been sentenced to five years in prison for securities fraud. In addition to his 61 month prison sentence, Bailey was ordered to pay $875,000 in restitution. The former financial adviser had previously pleaded guilty to one count of felony securities fraud under the Kansas Uniform Securities Act. Bailey had been originally charged with 39 felony counts of securities fraud and selling unregistered securities but only pleaded guilty to the one count. Seven Kansas investors were bilked out of over $700,000 from January 2008 to February 2011 when Bailey sold them unregistered securities in an an entity called Legacy Capital. Prosecutors believe that Bailey used a large portion of the money he received from his investors for personal expenses. Bailey had previously been suspended in 2010 by FINRA from associating with any FINRA member in any capacity for two years. Without admitting or denying the allegations, Bailey consented to the described sanctions [...]

By |March 30th, 2016|FINRA, Fraud, Press Releases & News|
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Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.