SEC v. Dow Rockwell LLC and Richard Dow Rockwell

Dow Rockwell LLC and Richard Dow Rockwell allegedly failed to disclose compensation they received in connection with soliciting and recommending investments in the securities of Professional Financial Investors, Inc. ("PFI"), a Marin County, California real estate investment and management company that defrauded investors. According to the SEC, PFI operated as a Ponzi scheme. Rockwell and Dow Rockwell LLC allegedly did not disclose the past criminal conviction of PFI’s founder to their clients and that, during the time Rockwell and Dow Rockwell LLC offered and sold PFI securities, neither was registered as a broker-dealer with the SEC or associated with a registered broker-dealer.

Summary generated from official Securities and Exchange Commission press release