Jefferson City, Mo. — Secretary of State Jay Ashcroft’s Securities Division was helpful in bringing federal charges against a Connecticut man accused of defrauding investors in 11 states, including Missouri.
The U.S. Securities and Exchange Commission (SEC), in a release, thanked the Missouri Securities Division for their role in providing information and evidence that was material in uncovering an alleged $4.8 million fraud scheme.
The SEC’s complaint alleged that Charles Thomas Lawrence, Jr. misrepresented himself as the managing director of a defunct Swedish entity and promised no-loss investments with large returns that were fictitious. Lawrence is accused of rerouting funds to pay for a lavish lifestyle that included charter jets, international travel, and other misconducts.
The Missouri Securities Division routinely assists and coordinates with federal regulators on matters in a joint effort to hold accountable those who have defrauded investors from Missouri and other states.
“This is testimony to the great work and achievement of the Missouri Securities Division,” Ashcroft said. “Our goal is to protect investors by maintaining a fair market. The first step by any investor should be to make sure the person selling an ‘opportunity’ is licensed and registered.”
Secretary Ashcroft urges investors to call the toll-free Investor Protection Hotline at 800-721-7996 or go online to www.missouriprotectsinvestors.com for information or to file a complaint.