Red Rock Secured LLC allegedly made misleading or false statements that convinced hundreds of clients to sell existing securities to buy more than $50 million worth of “premium coins,” according to a new lawsuit.
The Securities and Exchange Commission said that Red Rock’s CEO Sean Kelly and two senior account executives, acting as unregistered investment advisers, persuaded at least 700 clients to sell their securities by telling them they could protect their assets from potential market risk losses.
The SEC sued Monday in the US District Court for the Central District of California asserting violations of the Exchange Act and ...
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