Commission Orders Former
Securities Salesman to
Pay Restitution and Penalties for Illegal Stock Sales
April 15, 2015
PHOENIX,
AZ—The Commission ordered James F. Liebes
and Lanesborough Financial Group, LLC of Paradise Valley to pay $70,910 in
restitution and to pay a $20,000 administrative penalty for the offer and sale
of securities without being registered as a securities salesman or dealer with
the Commission’s Securities Division.
Following an administrative hearing, the Commission
found that Liebes, a former registered securities salesman, offered and sold
stock in an Arizona corporation to multiple Arizona investors. The Commission
also found that Liebes had developed a reputation for brokering the sales of
corporate stock, engaging in unlawful activity that included locating buyers for
the shares of stock, handling the communication between buyers and sellers, and
ensuring that the necessary legal work was performed. The Commission found that
Liebes conducted these transactions through his company, Lanesborough Financial
Group, LLC, by contacting buyers and sellers through the use of his company’s
email address.
For more details about this case, view
the full text of
the Commission’s order S-20876A-13-0014. The Commission’s final order against
the named respondents will be posted online as soon as it is signed by all of
the Commissioners. Please check the website in a few days:
More caution for investors:
Even when
investing with someone they know, investors should verify the registration of
sellers and investment opportunities and investigate disciplinary histories by
contacting the Arizona Corporation Commission’s Securities Division at
602-542-4242 or toll free in Arizona at 1-866-VERIFY-9 (837-4399). The
Securities Division’s investor education website also has helpful information at
www.azinvestor.gov.
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American Freedom by Barbara Has NOT received any compensation to post this information,it is a courtesy post. This web site is non-partisan.
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American Freedom by Barbara Has NOT received any compensation to post this information,it is a courtesy post. This web site is non-partisan.
