Securities Enforcement Actions
Securities Division- North Carolina Secretary of State
Raleigh, North Carolina-September 11, 2022
Founders of Fake “Hedge Fund” Plead Guilty to $4 Million Ponzi Scheme– Charlotte, N. Carolina- Austin D. Page, 26, of Grover, N.C. pleaded guilty to wire fraud and Brandon Alexander Teague, 26 of Belmont N.C> pleaded guilty to securities fraud. According the US Attorney Office Press Release, Page and Teague engaged in an investment scheme that defrauded hundreds of victims who thought they were investing in a hedge fund in Kings Mountain, N.C. , D & T Investment Group. D&T was not a hedge fund, and did not hold any securities licenses Page and Teague were not licensed to sell securities and did not have a background associated with the sale of securities. A sentencing date has not been set yet. 4/27/2022.
Cornelius, North Carolina Residents Face Federal Charges Over Multi-Million Dollar Investment Scheme– A Department of Justice Press Release reports that Cornelius residents Marlin Hershey and Dana Bradley, both 52, have been charged with wire fraud conspiracy, mail fraud, securities fraud and money laundering conspiracy. The indictment lists the following entities which were promoted by Hershey and Bradley: Performance Retire on Rentals LLC, Distressed Lending Fund LCC, Moteng Funding LLC and Southeast Lot Acquisitions LLC. 4/22/2022
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.
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