Additional Archives
Securities Division Newsletters
March/April 2015 Newsletter
In this issue, we report on the arrest of Micah Christopher Wilson, 59, of Gastonia who was charged by investigators from the NC Securities Division with two counts of felony securities fraud and two counts of obtaining property by false pretenses. Investigators allege Wilson defrauded victims out of hundreds of thousands of dollars. We include a notice from the US Commodity Futures Trading Commission (CFTC) that it is conducting its first-ever SmartCheckSM Week. During the week of April 6-12, 2015, CFTC staff will highlight efforts to encourage investors to check the background of financial professionals before investing their money. We also report that four defendants have been sentenced to between 34 months to 54 months in prison for their roles in the Operation Wax House fraud investigation. To date, 91 people have been charged and 89 defendants have either pleaded guilty or have been convicted following trial and two are international fugitives. Of the 89 defendants convicted, 11 remain to be sentenced. We also report that the CFTC has filed a civil enforcement action in the U.S. District Court for the Middle District of Florida, charging Defendants Maverick International, Inc. and its principals, Wesley Allen Brown and Edward Rubin, with operating a fraudulent commodity pool and other violations of federal commodity laws. Brown currently resides in North Myrtle Beach, South Carolina, and Rubin resides in Winnabow, North Carolina. We include a summary of a new research report issued by the FINRA Investor Education Foundation that found that nearly two-thirds of self-reported financial fraud victims experienced at least one non-financial cost of fraud to a serious degree--including severe stress, anxiety, difficulty sleeping and depression. We have reprinted two Investor Bulletins from the US Securities and Exchange Commission (SEC) explaining options and options accounts. We also report on the FINRA Investor Education Foundation's Military Spouse Fellowship Program, which is accepting applications through April 17 for its 2015 class of military spouses. We also include our regular features, Calendar of Upcoming Events, On the Docket, and News from the Regulators.
 
March/April 2015 Newsletter
With the number of cyber-attacks aimed at various financial institutions growing each day, the Department of the Secretary of State Securities Division urges investors to contact their own financial services providers -- including their brokers and investment advisers -- to find out what policies and procedures each firm has implemented to safeguard the investor's personal financial information. Included in this issue is a cybersecurity alert with a list of just some of the questions investors should ask. We also report on the latest in the on-going series of workshops the Division recently conducted in Charlotte and Raleigh for those investment advisers subject to the Division's regulatory oversight. We also mark America Saves Week by encouraging investors to think and talk about their personal finances. To help investors do just that, we reprint two investor bulletins from the U.S. Securities and Exchange Commission, one offering tips on how to better manage one's finances, and one detailing how investors harmed by fraudulent investment schemes may recover some of their money. Finally, we include our regular features, our Calendar of Upcoming Events, information about criminal cases that are On The Docket, our Recent Enforcement Actions, and News from the Regulators.