Investment Advisers Fraudulently Raised $3.7 Million, SEC Says

Knight Nguyen Investments, its owner, and an adviser at the firm misled clients as they raised about $3.7 million for “extremely risky investments,” the SEC told a federal judge in Texas.

The Houston-area firm, owner Christopher Knight Lopez, and investment adviser representative Forrest Andrew Jones “lured” investors with promises of secure investments and high returns, then sold investments that didn’t meet KNI’s stated criteria, the Securities and Exchange Commission’s Thursday complaint filed in the U.S. District Court for the Southern District of Texas says.

Many of the investments were “related to high risk or fraudulent companies,” most of which Lopez ...