SEC Files Fraud Complaint vs. Roger Bliss and His Investment Club

SEC Files Fraud Complaint vs. Roger Bliss and His Investment Club

SEC Files Fraud Complaint vs. Roger Bliss and His Investment Club 150 150 Robert Rex, Esq.

UPDATE January 2016Bliss to serve a year and a day in federal prison for trying to corruptly influence and obstruct the administration of justice in the SEC case.  See Department of Justice release. 

February 13, 2015-Bountiful, Utah

The U.S. Securities and Exchange Commission (SEC) filed a complaint against Roger Bliss, Roger Bliss and Associates Equities, Roger Bliss and Associates Club and Bliss Club LLC alleging the operation of a fraudulent day-trading scheme trading Apple stock.

The SEC complaint states that while Bliss claims to have tremendous success trading Apple stock, making 100%-300%, he actually lost over $3 million from 2012-2015, and his trading account has only about $32,000 in it.

The complaint lists numerous alleged misrepresentations, including the following:

  • Bliss claims his ‘club’ has over $300 million of which $260 million is his
  • Bliss claims to have never had a trading day where he lost money in the last six years
  • Bliss claims one couple started with $300,000 six years ago and now has between $20 and $30 million as a result of his trading
  • Bliss guarantees to investors that he will indemnify all club members for any loss to principal.

The SEC alleges that Bliss used falsified documents to conceal his scheme and is seeking an injunction, civil penalties and a disgorgement of ill gotten gains.

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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