{"id":1656,"date":"2015-06-04T19:16:11","date_gmt":"2015-06-04T19:16:11","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/06\/sec_warns_about_fake_investmen"},"modified":"2015-06-04T19:16:11","modified_gmt":"2015-06-04T19:16:11","slug":"sec-warns-about-fake-investmen","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-warns-about-fake-investmen\/","title":{"rendered":"SEC Warns About Fake Investment Advisers Who Inflate or Fake Their Credentials"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission has issued an alert cautioning investors to double check the credentials of financial professionals before working with them. This week, the regulator’s Enforcement Division announced two securities fraud<\/a> cases against investment advisers accused of making false claims about their background and experience.<\/p>\n

In one case, Michael G. Thomas purportedly told investors that Fortune Magazine had named him one of the “Top 25 Rising Business Stars.” The distinction does not exist. He also allegedly inflated his past investment performance, pumped up a fund’s projected performance, and made misrepresentations about who would be advising and co-managing a fund. <\/p>\n

Thomas has consented to pay a $25,000 penalty. He agreed to not take part in the offer, issuance, or sale of certain securities for five years. Thomas is barred from associating with investment advisers, dealers, and brokers during that time.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has issued an alert cautioning investors to double check the credentials of financial professionals before working with them. This week, the regulator’s Enforcement Division announced two securities fraud cases against investment advisers accused of making false claims about their background and experience. In one case, Michael G. Thomas purportedly told […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781],"tags":[],"class_list":["post-1656","post","type-post","status-publish","format-standard","hentry","category-investment-advisers"],"yoast_head":"\nSEC Warns About Fake Investment Advisers Who Inflate or Fake Their Credentials — Investor Lawyers Blog — June 4, 2015<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has issued an alert cautioning investors to double check the credentials of financial professionals before working — June 4, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-warns-about-fake-investmen\/\" \/>\n<meta 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