“As alleged in the complaint, “Karlsson’s scheme jeopardized the hard-earned savings of thousands of retail investors,” he added.
The SEC alleged that Karlsson violated registration provisions of the Securities Act. He also violated the anti-fraud provisions of the Securities Act and the Securities Exchange Act and Rules 10b-5(a) and 10b-5(c).
The Commission is seeking immediate and permanent injunctions, disgorgement, prejudgment interest, and civil penalties.
The Retail Strategy Task Force is working on educating investors. It is encouraging investors in the Hearing Loss, Hard of Hearing, and Deaf community to learn how to spot “red flags” and see frauds in their communities.
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