Investor Alert > Behavioral Recognition Systems Inc. & Tamara Steele— Alleged Investment Fraud Scheme

Posted Sep 17, 2018

by Alan Rosca

Behavioral Recognition Systems Inc. & Tamara Steele— Alleged Investment Fraud Scheme

Steele Financial Inc. & Its Sole Owner Tamara Steele Allegedly Orchestrated a $13 Million Fraud Scheme Involving 120 Advisory Clients, Many of Whom Were Teachers

Steele Financial Inc. and its sole owner Tamara Steele allegedly ran a $13 million fraud scam involving 120 clients, many of whom are current or former teachers or other workers in public education, according to SEC Reports under review by investor rights attorney Alan Rosca.

Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Steele Financial Inc. and its sole owner Tamara Steele’s alleged investment fraud scam. Investors who believe they may have lost money in activity related to Steele Financial Inc. and its sole owner Tamara Steele are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Antonia Chion, Associate Director of the SEC’s Division of Enforcement, has issued the following statement:

We allege that Steele took advantage of her own advisory clients, including clients whom she herself described as ‘two-pension, two Social Security families… Investment advisers must put their clients’ interests ahead of their own and make full and fair disclosure of financial conflicts of interest.

Steele Financial Inc. & Its Sole Owner Tamara Steele Allegedly Violated the Antifraud & Broker-dealer Registration Provisions of Federal Securities Laws

Steele Financial Inc. and its sole owner Tamara Steele allegedly violated the antifraud and broker-dealer registration provisions of the federal securities laws, according to aforementioned SEC Reports under review by investor rights attorney Alan Rosca.

The SEC is seeking disgorgement of ill-gotten gains with interest, penalties, and permanent injunctions.

Steele and Steele Financial allegedly targeted their own advisory clients who generally did not invest in individual stocks, selling over 120 clients approximately $13 million of BRS securities without reportedly informing them that they were receiving commissions from BRS, the SEC reports. Steele and Steele Financial also allegedly created false invoices and took other steps to hide their involvement selling BRS securities, the SEC states.

In sum, Steele and Steele Financial reportedly received commissions of cash and warrants from BRS worth over $2.5 million, the SEC notes.

Securities Lawyer Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Steele Financial Inc. and its sole owner Tamara Steele’s alleged investment fraud scam. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Steele Financial Inc. and its sole owner Tamara Steele’s alleged investment fraud scam may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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