Insurance salesman raised money for fraudulent oil and gas fund, SEC charges

December 17, 2024 by Bruce Kelly

A California insurance salesman was operating as an unlicensed broker when he sold more than $4 million in securities to clients in an energy fund that was later charged with fraud, the Securities and Exchange Commission stated in an order Monday. 

Click HERE to read the full story via InvestmentNews

Wink’s Moore on the Market: This article from Bruce Kelly at InvestmentNews is bizarre.

This insurance agent wasn’t registered to sell securities, but he was selling them nonetheless…

The investments that he was selling were part of a Ponzi scheme…

AND- he sold some to his wife?!?

Is it safe to assume he was unaware of the Ponzi scheme? I have so many questions -sjm

Originally Posted at InvestmentNews on December 10, 2024 by Bruce Kelly.