SEC goes after barred Ohio adviser for violating order
Brandon Copeland created a new firm and failed to pay penalty
The Securities and Exchange Commission has charged barred registered investment advisory firm partner Brandon E. Copeland with violating a 2019 order and again deceiving potential investors.
Last July, the SEC issued an order against Copeland, of Painesville, Ohio, for making false and misleading statements to investors in Form ADV filings and offering materials. The fraudulent statements were made in connection with Salus, a limited investment partnership in Denver, Colo., in which he was a principal. The order imposed a cease-and-desist order, a bar, an investment company prohibition and a $25,000 penalty.
According to the SEC’s current complaint, Copeland immediately violated its order and committed new advisory act violations, establishing a new RIA and private fund.
These were promoted on a public website “that contained numerous misstatements and omissions regarding the status and success of the private fund, as well as Mr. Copeland’s industry experience and disciplinary history with the Commission,” the SEC said in a release.
The complaint seeks to enforce the commission’s order against Copeland and to obtain an injunction, civil penalties, and disgorgement of ill-gotten gains with prejudgment interest from his new firm.
[More: SEC bars former Merrill Lynch adviser over alleged $1.7 million fraud]
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