Securities Division

Illegal Pyramid Schemes

Disguised as Multi-level Marketing Businesses (MLMs)
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Enforcement Actions

Secretary Galvin Charges Royal Alliance in Connection with Unsuitable Investment Advice
January 22, 2019

Secretary Galvin Fines Summit Equities over Handling of Customer Personal Information
December 27, 2018

Secretary Galvin Charges Cape Adviser With Running a Scheme Which Overcharged Clients
December 19, 2018

Secretary Galvin Fines Metlife $1 Million, Orders Payments to be Made to Retirees
December 18, 2018

Secretary Galvin Fines AirFox $100,000 for Unregistered Initial Coin Offering
November 16, 2018

Secretary Galvin Orders SII to offer restitution in connection with Non-Traded REITs
September 7, 2018

Secretary Galvin Orders Broker-Dealer to Provide Restitution to Massachusetts Investor
August 24, 2018

Secretary Galvin Charges Broker-Dealer with Making Short-Term Trades to Increase Commissions
August 14, 2018

Secretary Galvin Brings Charges in Local Real Estate Scheme
August 1, 2018

Secretary Galvin Charges Easton Investment Adviser with Misleading Customers Regarding Disciplinary History
July 24, 2018

Secretary Galvin Sanctions Broker Dealer Infinex Investments for Selling to Seniors on Bank Premises
July 19, 2018

Secretary Galvin Charges Lincoln Man with Defrauding Massachusetts Investors
July 12, 2018

Secretary Galvin Charges MetLife with Fraud in Connection with Failure to Make Pension Payments
June 25, 2018

Secretary Galvin Participates in Coordinated International Cryptocurrency Crackdown
May 21, 2018

Secretary Galvin Issues Orders in Connection with ICO Cryptocurrency Sweep
March 27, 2018

Secretary Galvin Charges Peabody Private Equity Investment Fund with Ponzi Scheme
March 15, 2018

Secretary Galvin Charges Scottrade, Inc. in Connection with the Fiduciary Rule
February 15, 2018

Secretary Galvin Charges North Shore Investment Adviser With Real Estate Scheme
February 14, 2018

Secretary Galvin Charges Brookline Man in Initial Coin Offering Cryptocurrency Scheme
January 17, 2018

Secretary Galvin Charges Milton Man in House-Flipping Scam
December 12, 2017

Secretary Galvin Charges Waltham Man with Fraud in Investment Advisory Activity
October 19, 2017

Secretary Galvin Charges SII with Unethical Sales of Non-Traded REITs
September 20, 2017

Secretary Galvin Charges Allston Man with Fraud in Private Equity Fund
June 8, 2017

Secretary Galvin Fines LPL $1 Million for Failed Supervision of Agents at Digital Federal Credit Union
May 4, 2017

Secretary Galvin Settles Sales Contest Charges with Morgan Stanley
April 10, 2017

Broker-Dealer Operating Out of Massachusetts Community Banks Fined $100,000, Ordered to Offer Restitution to Exploited Senior Citizens
March 23, 2017

Secretary Galvin Settlement with LPL Financial LLC Provides $3.7 Million in Investor Relief, Fines and Disgorgement of Profits
January 30, 2017

Secretary Galvin Files Against Cambridge Hedge Fund Partnered with Toronto-Based Donville Kent Asset Management
January 18, 2017

Secretary Galvin Charges Roger Zullo and LPL Financial LLC in Fraudulent Annuity Sales to Seniors
December 1, 2016

Secretary Galvin Charges Walpole Man with Fraudulent Advising
November 22, 2016

Secretary Galvin - Senior Bank Customers Exploited at Local Community Banks by Aggressive Sales Contests and Improper Sales
November 15, 2016

Secretary Galvin Charges Hingham Man in Ponzi Scheme
November 1, 2016

Secretary Galvin Targets Two Broker-Dealer Firms with History of Hiring Bad Brokers
October 20, 2016

Secretary Galvin Charges State Street Entity in Long-Term Overcharging
April 20, 2016

Secretary Galvin Charges Citizens Securities in Improper Sales to Elder Citizens Bank Customer
January 7, 2016

Secretary Galvin Charges Realty Capital Securites LLC with Proxy Voting Fraud and Seeks Revocation
November 12, 2015

Secretary Galvin Charges Fidelity Brokerage Services with Dishonest and Unethical Conduct Allowing Unregistered Investment Advisers to Conduct Business
October 26, 2015

Secretary Galvin Fines LPL Financial $250,000 for Failure to Supervise the State's Senior Designation Rule
July 15, 2015

Secretary Galvin Charges Securities America in Failure to Supervise Ads Aimed at Seniors
July 8, 2015

Secretary Galvin Charges Waltham Man with Securities Fraud
June 30, 2015

Secretary Galvin in Conjunction with the State of Alabama Charges Alabama Group in Ponzi Scheme Fraud on Massachusetts Investor
June 10, 2015

Secretary Galvin Charges Uxbridge Man with Ponzi Scheme in Affinity Sale of Unregistered Securities
June 2, 2015

Secretary Galvin Charges Plymouth Man and Firm for Acting as Unregistered Investment Advisers, Orders California Funds to Offer Refunds and Pay a Civil Penalty for Selling Unregistered Mortgage Loans
May 4, 2015

Secretary Galvin Settles Failure to Supervise Charge with Merrill Lynch for $2.5 Million
March 23, 2015

Enforcement Actions Archives (2012-2014)

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