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 Goldman Scarlato & Penny PC 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 Goldman Scarlato & Penny PC 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 firstname.lastname@example.org, or through the contact form on this webpage.