SEC v. David P. Ortiz and DaveGlo Investment Group, Inc.

David P. Ortiz and DaveGlo Investment Group, Inc. were previously charged with selling securities in unregistered oil and gas offerings, acting as unregistered brokers, and, as to Ortiz, allegedly failing to disclose financial conflicts of interest to advisory clients. Ortiz allegedly marketed and sold approximately $18 million of investments in oil and gas securities to approximately 20 retail investors and allegedly used mass marketing, including commercials on radio broadcasts, to solicit investors. Ortiz also allegedly received more than $800,000 in transaction-based compensation for selling the unregistered securities.

Summary generated from official Securities and Exchange Commission press release