Two investment promoters are accused of running an advance fee scheme from what they claimed was a Dallas-based investment advisory firm. According to an Emergency Cease and Desist Order entered by the Texas Securities Commission, the Mark Diaz and Raymond Hill offered to buy investors’ stock under the condition that those selling would have to cover transaction costs. The two men promoted their alleged Texas-based securities fraud through social media, bogus websites, forged documents, and supposed IRS affiliations.
Two websites they set up had names similar to Cain Capital LLC, which is a firm that is actually registered with the SEC. According to the Texas regulator, one of the bogus websites directs visitors to a regulator filing that the real Cain Capital submitted to the SEC, as well as to that firm’s Twitter and Facebook pages.
Both sites and the social media accounts are not connected to Cain Capital in anyway. The two men are accused of sending unsolicited email that included documents with Cain Capital’s name in the letterhead to prospective investors.