SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

Posted on June 4th, 2024 at 1:13 PM
SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

From the desk of Jim Eccleston at Eccleston Law

The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a private entity under his control, for allegedly defrauding investors through three securities offerings.

According to the SEC's complaint, Thompson promoted F3 Mastermind as an exclusive membership group for investors seeking passive income. Allegedly, members paid initiation and monthly fees, gaining access to investment opportunities in trading programs promising extravagant returns, ranging from 20 percent per week to 4,000 percent annually. DiWire reports that Thompson and F3 Mastermind recommended those investments to at least five investors, soliciting funds totaling $2 million from individuals in Missouri, Kentucky, and California.

The complaint asserts that Thompson and F3 Mastermind misrepresented these programs as legitimate, offering exceptional returns with minimal risk. These investments were akin to "prime bank" schemes, characterized by secretive operations and vague terms, obscuring the origin of promised returns. Additionally, relief defendant Brian K. Stucki purportedly received illicit gains from the scheme without legitimate entitlement.

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

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

May 9, 2025
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.