{"id":3635,"date":"2016-08-12T00:00:00","date_gmt":"2016-08-12T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/08\/texas_securities_fraud_state_b"},"modified":"2022-03-23T09:50:15","modified_gmt":"2022-03-23T14:50:15","slug":"texas-securities-fraud-state-b","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-fraud-state-b\/","title":{"rendered":"Texas Securities Fraud: State Fines The Investment Center and A Local Man Is Accused of Bilking Investors"},"content":{"rendered":"<p>A New Jersey financial firm must pay $50,000 in Texas for allegedly not properly supervising one its brokers who loaded up too many energy stocks in his clients\u2019 accounts. The Investment Center Inc. has been reprimanded by the Texas State Securities Board, which also imposed the fine.<\/p>\n<p>It was an investor that brought the <a href=\"https:\/\/texas.stockbroker-fraud.com\">Texas securities case<\/a> against the securities dealer and one of its ex-brokers. According to the state regulator\u2019s consent order, between \u201910 and \u201914, some clients at The Investment Center held 95% of total investible assets in energy sector equities. The recommended securities were typically low-priced and publicly traded.  There were purportedly periods when some clients\u2019 accounts were invested in just one company instead of holding investments in different energy companies at the same time. Also, said the state regulator, with certain clients, their equity positions were 100% concentrated in the energy sector.<\/p>\n<p>The Texas State Securities Board said that clients that could not sustain a lot of risk were among those affected by this broker\u2019s investment choices. <\/p>\n<p>Although the former financial representative\u2019s actions in investing so much of his clients\u2019 money in concentrated equity positions raised red flags when some  of these accounts dropped in value, The Investment Center purportedly failed to act on the warning signs. The firm has since paid the investor who filed the <a href=\"https:\/\/texas.stockbroker-fraud.com\">Texas securities fraud complaint <\/a>$98,000.\n<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-fraud-state-b\/#more-3635\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A New Jersey financial firm must pay $50,000 in Texas for allegedly not properly supervising one its brokers who loaded up too many energy stocks in his clients\u2019 accounts. The Investment Center Inc. has been reprimanded by the Texas State Securities Board, which also imposed the fine. It was an investor that brought the Texas [&hellip;]<\/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":[3750],"tags":[],"class_list":["post-3635","post","type-post","status-publish","format-standard","hentry","category-texas-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Securities Fraud: State Fines The Investment Center and A Local Man Is Accused of Bilking Investors &#8212; Investor Lawyers Blog &#8212; August 12, 2016<\/title>\n<meta name=\"description\" content=\"A New Jersey financial firm must pay $50,000 in Texas for allegedly not properly supervising one its brokers who loaded up too many energy stocks in his &#8212; August 12, 2016\" \/>\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\/texas-securities-fraud-state-b\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Securities Fraud: State Fines The Investment Center and A Local Man Is Accused of Bilking Investors &#8212; 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