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Stockbroker Uses Invesco as Cover for Fraud

The Securities and Exchange Commission today announced the filing of a civil injunctive action against Bradley Morgan Holts of Beaumont, Texas, for the misappropriation of customer funds.

The SEC’s complaint alleges that Holts, while a registered representative associated with Denver-based World Capital Brokerage, stole $186,382 from three elderly customers of the broker-dealer after falsely claiming to his clients that he would invest their money in mutual funds offered by investment management firm Invesco Ltd.

Instead, per the SEC complaint, Holts stole the investors’ money and used it to pay for personal expenses, including clothing, tanning salons, adult and dating websites, and a divorce lawyer.

Holts began his career in the securities industry with Edward Jones in 2010 before moving to affiliates of Capital One in 2014. In 2020, Holts worked for Supreme Alliance LLC for less than a year before joining World Capital Brokerage Inc., which is where he was barred from the Financial Industry Regulatory Authority.

The SEC’s complaint charges Holts with violating the antifraud provisions and seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest and a civil penalty.

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