"securities" are not what the average joe knows...research definition of "security" on finra.org...and also promissory note on finra.org... "The official definition, from the Securities Exchange Act of 1934, is: "Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit, for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a 'security'; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limite
basically an unregistered (BARRED individual) is offering a security for sale and not through an ordinary brokerage firm and is relying on dummies to do word of mouth to solict investment in it...your money is NOT protected...this guy disappears and your money is GONE...
a normal broker/dealer that commits fraud comes under SIPC (sipc.org) and your money would most likely be insured...since this is an unregistered barred individual and an unregistered security offering you are screwed when it collapses...
unregistered offerings as noted in Reg D are not for the average joe...you have to be accredited and it can not be publicy sold...why is this being sold across state lines???
WAKE UP PEOPLE...IF IT IS TOO GOOD TO BE TRUE THEN IT ISNT...take your money and keep it SAFE!!!!!!! good luck...you make criminals rich...
|