Former Texas Registered Rep Arrested for Internet Ponzi Scheme

Posted on February 8th, 2017 at 9:31 AM
Former Texas Registered Rep Arrested for Internet Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC:

Former registered rep Bobby Eugene Guess was arrested following his indictment on charges of securities fraud, theft, money laundering and engaging in organized criminal activity related to the multi-million-dollar sale of investments in an internet advertising company. Mr. Guess is the founder and CEO of Texas First Financial in Frisco, Texas.

The indictment specifically alleges that from 2014 to 2016, Mr. Guess perpetrated a Ponzi scheme by raising money for investments in two separate companies and using that money to allegedly repay previous StaMedia investors. StaMedia is an advertising company that utilizes ad technology that changes marketing across all digital platforms. Mr. Guess, who has not been licensed to sell securities since 2011, failed to disclose to investors that StaMedia had very limited revenue and net income. Mr. Guess and sales associates allegedly sold $6 million in notes, stock certificates and investment contracts to investors in StaMedia Inc. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LC, James Eccleston, registered rep, Bobby Eugene Guess, securities fraud, theft, money laundering, organized criminal activity, investment, internet advertising company, CEO, Texas First Financial, Ponzi schem

Return to Archive

TESTIMONIALS

Previous
Next

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.

 

May 15, 2024
NFA Issues Order Against 50.ai Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.