According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Darren Ofsink (Ofsink), previously associated with Primary Capital, LLC, has at least one disclosable event. These events include one tax lien, alleging that Ofsink recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on April 04, 2023.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Darren L. Ofsink (‘Respondent’ or ‘Ofsink’) pursuant to Rule 102(e)(3)(i) of the Commission’s Rules of Practice. The Commission finds that on March 31, 2023, a final judgment was entered by consent against Ofsink, permanently enjoining Ofsink him from future violations of Sections 5(a) and 5(c) of the Securities Act of 1933 thereunder, in the civil action entitled Securities and Exchange Commission v. DiScala, et al., 14-cv-4346 (ENV), in the United States District Court for the Eastern District of New York. The Commission’s complaint alleged that Ofsink helped execute the reverse merger of CodeSmart Holdings, Inc. (‘CodeSmart’) into a public shell company. The complaint further alleges that Ofsink helped restrict the supply of CodeSmart securities available for sale and obscure the holdings of other key individuals. The complaint further alleges Ofsink received and sold shares of CodeSmart, the offer and sale of which was not registered, for substantial proceeds. On January 31, 2023, a judgment of conviction was entered against Ofsink in United States v. DiScala, 14 cr. 399 in the United States District Court for the Eastern District of New York, finding him guilty of one count of conspiracy to commit securities fraud, in violation of Title 18, United States Code, Section 371. On January 20, 2023, Ofsink was sentenced to 21 months imprisonment, and ordered to pay joint and several restitution of over $12 million, and ordered to pay forfeiture of approximately $292,000.