Collierville Investment Company Ordered to Cease & Desist Illegal Sale of Securities
NASHVILLE –The Tennessee Department of Commerce & Insurance (TDCI) announces disciplinary action against a Collierville-based business and its principal found in violation of the state’s securities laws.
TDCI cited O’Neil Capital Partners, L.P. and operator Brian O’Neil Putt for multiple violations, including: selling securities that were not registered; selling securities without being registered as a broker-dealer or investment adviser; not being honest about the nature of the transactions; failing to abide by all the specified terms; failing to return all of the funds upon request; and borrowing money from a customer.
“The Department is committed to protecting Tennessee consumers from investment fraud,” said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. “We will continue to identify and investigate those found breaking the state’s security laws. We urge consumers to contact us if they believe they have been the victim of fraud.”
A Final Order imposes $115,000 in civil penalties against O’Neil Capital Partners and Putt, and orders them to cease and desist from any future activity in violation of the State of Tennessee’s securities laws.
Tennesseans are encouraged to visit TDCI’s website where they can inspect disciplinary actions and verify licenses of securities and insurance professionals.
If you suspect that you might be a victim of securities or insurance fraud, or if you would like to file a complaint or speak with an investigator, please contact the Tennessee Securities Division – Financial
Services Investigations Unit at (615) 741-5900. To file a complaint online, visit https://tn.gov/commerce/article/securities-file-a-complaint.