Jefferson City, Mo. — Secretary of State Jay Ashcroft's Securities Division issued a final order to cease and desist against unregistered agent Josh McDonald and his company Perfection PR Firm LLC after they sold unregistered, non-exempt securities to four Missouri investors.
The order also states that McDonald and his company made untrue statements, omitted material facts and engaged in fraud against the investors, who are residents of Hannibal, Rolla and Sullivan.
From December 2017 to January 2018, McDonald solicited four Missourians to invest $260,000 in a foreign currency exchange market trading program. Despite sending investors statements claiming investment returns of 20 percent or more, McDonald never sent funds back to the investors, with the exception of one who received $20,000 after requesting a withdrawal. To date, McDonald has been unresponsive to investors’ requests for information about their investments.
“Investors should make sure they know who they are dealing with and what they are buying before they part with their money,” Securities Commissioner David M. Minnick said. “Understand the risks and beware of fraud. If you have any questions about a potential investment, contact us.”
The division also ordered McDonald and his company to show cause why they should not be ordered to pay restitution plus interest, civil penalties and investigation costs totaling more than $490,000.
Ashcroft urges all investors to know the risks. If you have any questions about an investment opportunity or wish to check the background and registration status of a financial adviser, please call the toll-free investor protection hotline at 800-721-7996, or go online to www.missouriprotectsinvestors.com to file a complaint.