All information in this report was compiled from public records maintained by the SEC.
Unregistered Broker Settles $11 Million Investment Fraud
Anthony B. Brandel, 57, of Las Vegas, Nevada, on Oct. 17, entered into an SEC offer of settlement for fraud, misappropriating investor funds, and acting as an unregistered broker.
From at least August 2008 until fall 2011, Brandel defrauded over 30 investors out of about $11 million while acting as an unregistered broker. He was the main point of contact with investors and misrepresented that their funds would be used in trading programs that guaranteed impressive profits. However, instead of using investors’ funds for these transactions, Bradnel misappropriated or diverted them to other participants in his scheme, the SEC said.
On June 29, 2017, a judgment was entered against him in a civil action titled SEC v. Malom Group AG, et al.; 2:13-cv-2280, in the U.S. District Court for the District of Nevada that included disgorgement of $4,920,000, prejudgment interest of $1,015,020.15, and a civil penalty of $630,000.
The SEC barred Brandel from association with any broker, municipal advisor, transfer agent, investment adviser, statistical ranting organization, dealer, or municipal securities dealer and from offering penny stocks.
