SEC Charges Advisors for Selling Unregistered Oil and Gas Securities, Failing to Disclose Conflicts of Interest.
AI Summary1 min read
TL;DR
The SEC charged three advisors for selling unregistered oil and gas securities and failing to disclose conflicts, leading to investor losses through radio shows and marketing.
The SEC charged three advisors and agents, including Charles D. Oliver, David Ortiz, and Kevin Richards, for selling unregistered oil and gas securities to clients without disclosing conflicts of interest. Oliver used his radio show to solicit investors, while Richards and Ortiz marketed the investments through various means. The trio allegedly sold millions of dollars in risky securities, resulting in significant losses for many investors.
