{"id":6526,"date":"2018-09-15T03:00:56","date_gmt":"2018-09-15T03:00:56","guid":{"rendered":"http:\/\/www.investorlawyers.com\/?p=6526"},"modified":"2018-09-15T03:00:56","modified_gmt":"2018-09-15T03:00:56","slug":"investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/","title":{"rendered":"Investor Fraud: Steele Financial is Accused of Selling Over $13M in Risky Securities, NJ Broker Allegedly Cherry Picked Trades, and the SEC Files Charges in $27M Microcap Fraud"},"content":{"rendered":"<br \/>\n<h2><strong>Steele Financial is Accused of Investor Fraud<\/strong><\/h2>\n<p>The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. According to the regulator, they allegedly sold $13M of risky securities to over 120 advisory clients. A lot of these clients are teachers, ex-teachers, or other public education employees. The SEC contends that Steele and her investment advisory firm did not tell them that Steele Financial would be making up to 18% in commissions in sales.<\/p>\n<p>According to the Commission\u2019s <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/investments\/\">investment advisory fraud<\/a> complaint, from 12\/2012 to 10\/2016, Stele Financial and Steele sold over $15M of Behavioral Recognition Systems Inc. securities. BRS is a company that the SEC has charged with fraud in the past. Meantime, Stele and her firm made over $2.5M of commissions.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/\"  title=\"Continue Reading Investor Fraud: Steele Financial is Accused of Selling Over $13M in Risky Securities, NJ Broker Allegedly Cherry Picked Trades, and the SEC Files Charges in $27M Microcap Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Steele Financial is Accused of Investor Fraud The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. According to the regulator, they allegedly sold $13M of risky securities to over 120 advisory clients. A lot of these clients are teachers, ex-teachers, or other [&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":[3773,3781,3738,3962,3977,3760,3803],"tags":[2666,3150],"class_list":["post-6526","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-investment-advisers","category-investor-fraud","category-microcap-market-fraud","category-pump-and-dump-scams","category-sec-enforcement","category-senior-investors","tag-cherry-picking","tag-steele-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investor Fraud News - September 15, 2018 | Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. According to the regulator, they allegedly sold $13M of risky securities to over 120 advisory clients (public education employees).\" \/>\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\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investor Fraud News - September 15, 2018 | Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. According to the regulator, they allegedly sold $13M of risky securities to over 120 advisory clients (public education employees).\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Investor Fraud News - September 15, 2018 | Investor Lawyers Blog","description":"The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. 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According to the regulator, they allegedly sold $13M of risky securities to over 120 advisory clients (public education employees).","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Investor Fraud: Steele Financial is Accused of Selling Over $13M in Risky Securities, NJ Broker Allegedly Cherry Picked Trades, and the SEC Files Charges in $27M Microcap Fraud","datePublished":"2018-09-15T03:00:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/"},"wordCount":684,"keywords":["cherry picking","Steele Financial"],"articleSection":["Broker Fraud","Investment Advisers","Investor Fraud","Microcap Market Fraud","Pump and Dump Scams","SEC Enforcement","Senior Investors"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/","url":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-steele-financial-is-accused-of-selling-over-13m-in-risky-securities-nj-broker-allegedly-cherry-picked-trades-and-the-sec-files-charges-in-27m-microcap-fraud\/","name":"Investor Fraud News - September 15, 2018 | Investor Lawyers Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-09-15T03:00:56+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US Securities and Exchange Commission has filed civil charges against investment advisory firm Steele Financial Inc. and its owner Tamara Steele. 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