St. Louis-based financial adviser’s identity used on fraudulent investment website


JEFFERSON CITY, Mo. – Those associated with have received a cease and desist order from the Secretary of State Jay Ashcroft’s Securities Division after they used the name of a St. Louis-based financial adviser in order to get investors to complete cryptocurrency transactions.

The Securities Division was notified of the activity on Friday, April 23. Those running used public information about the financial advisor to create the fraudulent website.

The website had Instagram accounts and a Facebook page aiding the scam.

The website had misspellings, grammatical errors and incorrect phone numbers for the firm causing its legitimacy to be questioned.

“Be wary of websites containing vague promises and multiple grammatical or typographical errors. Check out anyone who solicits investment opportunities or gives financial advice before sending any money. If you have any doubts, contact our office first,” Securities Commissioner David M. Minnick said.

The division asks for those associated with the website to “show cause why they should not be ordered to pay civil penalties, restitution, disgorgement of profits, costs and other administrative relief.”

If you have any questions about an investment opportunity or wish to check the background and registration status of a financial adviser, please call the toll-free investor protection hotline at 800-721-7996, or go online to to file a complaint.

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