SEC Accuses Florida Insurance Agent of $52 Million Unregistered Securities Scheme

Posted on October 15th, 2025 at 11:33 AM
SEC Accuses Florida Insurance Agent of $52 Million Unregistered Securities Scheme

From the desk of Jim Eccleston at Eccleston Law

The U.S. Securities and Exchange Commission (SEC) has filed a complaint against Florida insurance agent Charles D. Oliver, alleging he illegally sold about $52 million in unregistered oil and gas securities to roughly 50 retail investors, including retired seniors.

According to Alts Wire, the SEC claims Oliver acted as an unregistered broker and investment adviser while failing to disclose a major financial conflict of interest. According to the complaint, Oliver used his radio show and podcast, Hidden Wealth Radio, to promote his business, Hidden Wealth Solutions. While presenting himself as a financial and tax adviser, he allegedly steered clients toward risky oil and gas investments sponsored by Resolute Capital Partners LLC and Homebound Resources LLC.

The SEC states that Oliver received more than $4.3 million in transaction-based fees from Resolute, routed through Beacon Global Group Inc. This compensation was allegedly never disclosed to his advisory clients, according to Alts Wire. Instead of serving as a referral agent, Oliver is accused of actively selling securities by making presentations, recommending allocations, and discussing tax benefits. The complaint also alleges that Oliver misled clients by claiming he was a major investor in Resolute and served on its board, neither of which was true.

According to the complaint, many investors never received returns of principal or promised interest payments, with only “de minimis” distributions made.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, sec

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