UPDATE May 2016-The Virginia State Corporation Commission is accusing Daryl Bank of Port St. Lucie FL, who operates Virginia Beach based Dominion Investment Group of defrauding investors out of $21 million according to The Virginian-Pilot. According to the allegations Banks, who was barred from the securities industry four years ago, created a web of companies that sold unregistered investments to mostly retirees over the age of 60. Fees were as high as 20-40% of the capital raised and most of the companies had no assets.
April 6, 2015
The Securities and Exchange Commission (SEC) announced that 12 companies and six individuals have been charged with defrauding investors involving applications to the Federal Communications Commission (FCC) for cellular spectrum licenses.
The SEC alleges that David Alcorn and Kent Maerki orchestrated the fraudulent offering through Janus Spectrum LLC, of Glendale, Arizona. Investors were promised lucritive returns based on Janus Spectrum obtaining FCC licenses in the Expansion Band and Guard Band portions of the 800 megaherz (MHz) band.
The allegations state that over $12 million was raised, but only a small portion was actually directed to the preparation of applications.
The following individuals and companies were named in the SEC action as fundraising entities:
- Daryl G. Bank, Port St. Lucie, FL
- Dominion Private Client Group
- Spectrum Management
- Spectrum 100
- Spectrum 100 Management
- Prime Spectrum
- Prime Spectrum Management
- Bobby D. Jones, Heath, Texas
- Premier Spectrum Group
- Terry W. Johnson, Heath, Texas
- Raymon G. Chadwick, Jr. , Grand Prarie, Texas
- Innovative Group PMA
- Premier Group PMA
- Prosperity Group PMA
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.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900