Tomball Texas Firm Investigated for Fraud

According to the Inspections & Compliance Division of the Texas State Securities Board, there has been an action filed to determine whether STS-Advisors LTD out of Tomball, TX and Richard Lewis Bruce have engaged in fraudulent conduct that would result in getting their registrations revoked. Allegedly Mr. Bruce provided investment advice to an STS created partnership that garnered over $2 million from investors who were charged a 3% annual management fee plus 30% of their profits every quarter. The hearing notice also stated that STS and Bruce made excessive withdrawals from the partnership notwithstanding the fact that its value had shrunk because of losses.

Contact Us
Free Consultation: (800) 259-9010