Securities Lawyers Blog
According to news sources Bryan Anderson (Anderson) has been charged with wire fraud, money laundering and securities fraud, according to the FBI and the Alabama Securities Commission Anderson agreed to plead guilty to the charges under a plea agreement. Under the plea agreement Anderson will pay restitution of about $3.1 million to the victims of his Ponzi scheme.
According to the allegations, between January 2009 and January 2014, Anderson’s false investment promises caused 18 individuals to deliver more than $8.4 million to Anderson, which he deposited into an account held at BancorpSouth. When the scheme collapsed in May 2014, about 12 investors lost about $3.1 million.
It is alleged that Anderson solicited investors to invest in stock options that he said employed various trading strategies. However, the stock options he described were not registered securities. Anderson also offered investments in a company he owned called 360 Properties. Beginning in or about 2009, Anderson falsely represented to investors in 360 Properties that their returns would come from leased property income, when in fact there were no leased properties.