On May 13, the Securities and Exchange Commission (SEC) filed suit against Texas-based investment advisor Knight Nguyen Investments and three individuals for allegedly planning to invest funds from retail investors in at least five fraudulent securities offerings.
Peggy Ann Fulford, 58, formerly of Houston and now residing in New Orleans, has been arrested and charged with wire fraud, mail fraud, interstate transportation of stolen property and money laundering.
Paul Lebel, formerly registered with LPL Financial, was barred by the Securities and Exchange Commission for defrauding four customers by churning their accounts.
Ismail Elmas, a former registered financial advisor with CUSO Financial, has pleaded guilty to defrauding his clients, many of whom were seniors and widows, of more than $1 million.
