Colorado adviser pays $1.4 million to settle with SEC

Colorado adviser pays $1.4 million to settle with SEC
The agency charged Ann Vick with fraudulently raising $3.2 million from nearly two dozen investors for pooled investment fund.
OCT 26, 2021

The Securities and Exchange Commission charged Ann M. Vick, the owner of a Loveland, Colorado-based pooled investment fund, AMV Investments, with fraudulently raising approximately $3.2 million from nearly two dozen investors.

According to the SEC's complaint, from August 2018 through January 2021, Vick told investors she was a successful options trader and promised them "exorbitant" returns. Instead, her investments saw a mix of gains and losses, “and Vick never generated the consistent profits necessary to pay investors the returns she promised,” the SEC said in a release.

According to the complaint, after suffering significant losses in early 2020, Vick began making Ponzi-like payments to the investors in her fund and misappropriated approximately $570,150 of investors' funds.

Vick didn't admit or deny the SEC's allegations, but agreed to a judgment that permanently enjoins her from future violations of the charged provisions and from participating in the offer or sale of any securities. Under the agreement, she will pay disgorgement of $570,150, prejudgment interest of $27,929, and a civil penalty of $570,150.

Vick also agreed to be prohibited from acting as an officer or director of any public company. The settlement is subject to court approval.

Helping small-business owners with retirement plans

Latest News

Wall Street products, Main Street regulators
Wall Street products, Main Street regulators

How we got here – and what to do about it

Most Americans are OK with AI managing their money - but not how you think
Most Americans are OK with AI managing their money - but not how you think

AI trust gap: Americans want protection, not autonomy, in their finances

Goldman Sachs names record partner class with wealth in focus
Goldman Sachs names record partner class with wealth in focus

One in three of Goldman's 109 new partners comes from asset and wealth management, signaling the division's growing strategic weight.

Advisor moves: Raymond James, Ameriprise and Cetera land $2B-plus in talent
Advisor moves: Raymond James, Ameriprise and Cetera land $2B-plus in talent

Three firms secure experienced wealth management teams as advisor recruiting competition intensifies across the US.

RIA moves: Tech-focused RIA BKFi expands with first acquisition
RIA moves: Tech-focused RIA BKFi expands with first acquisition

San Diego advisory team brings private bank expertise and $225M in assets as the firm targets technology professionals nationwide.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor