Investment fraud can take many shapes and forms, but one of the cornerstones can include a broker who is not registered with the Securities and Exchange Commission.
Recently, the SEC filed an action against John Abio, also known as Tre Brandenburg, and Abio Financial Group. The complaint accuses Abio and his firm of acting as unregistered brokers and selling unregistered securities issued by Providence Financial Investments and Providence Fixed Income Fund.
Filed in federal court in Texas, the action alleges that Abio and Abio Financial earned more than $3 million in commissions on sales of notes to more than 100 investors. Not surprisingly, Abio was Providence Financial’s and Providence Fund’s highest paid salesperson.
The complaint seeks injunctive relief against future violations as well as the repayment of Abio’s and Abio Financial’s ill-gotten gains, and civil penalties. A quick Google search of Abio Financial Group shows it is “permanently closed.”
So how can you protect yourself against investment fraud? You can do a quick search on the SEC’s website to see if a person or firm is registered to sell investments. This is a simple (first) step anyone can take to protect their money. You can find the site by clicking here.
The Harris Firm has significant experience in pursuing investment fraud cases for multiple clients during the course of our firm’s history. If you suspect you may have been defrauded, please feel free to contact our firm for a free consultation.
