The SEC has ended its case against Nader Al-Naji, who was accused of $257 million in unregistered securities sales via the BitClout token. https://t.co/U0jiyCi4T1 ...

Core Viewpoint - The SEC has charged three advisors for selling unregistered oil and gas securities without disclosing conflicts of interest, with one advisor soliciting clients through a radio show [1][2]. Group 1: Individuals Involved - Charles D. Oliver, a Florida-based licensed insurance agent, sold approximately $52 million in investments to around 50 retail investors between 2020 and 2021, while failing to disclose his compensation of about $4.3 million from these sales [4][5]. - David Ortiz, based in California, marketed and sold roughly $18 million of the risky investments to around 20 retail investors, utilizing mass marketing tactics including radio commercials and workshops [8]. - Kevin Richards, also from California, sold about $12 million in Resolute's oil and gas securities through his entities, earning approximately $618,794 in transaction-based compensation without disclosing this to clients [6][7]. Group 2: Investment Vehicles and Methods - The securities were sold through offerings sponsored by Resolute Capital Partners and Homebound Resources, with Resolute creating the investment vehicles and Homebound acting as the project sponsor [3]. - Oliver became a referral agent for Resolute's vehicles via Beacon Global, despite being prohibited from sales activities, and used his radio show to solicit investors [4]. - Richards and Ortiz also employed various marketing strategies, including networking events and local media, to promote the oil and gas investments [6][8].