(Des Moines, IA) — The Iowa Insurance Division says a wine investment company is accused in a securities fraud scheme. Investigators say Windsor Jones L-L-C is accused of scamming hundreds of thousands of dollars from an elderly Iowan. The Insurance Division is ordering the company cease doing business in the state.
Iowa Insurance Commissioner Doug Ommen issued a Cease and Desist Order against Windsor Jones, LLC as well as Anthony Collins, Elizabeth Parker and Mark Goodwin based on the Division’s allegations the promoters engaged in securities fraud, the sale of an unregistered security, and acting as an unregistered broker-dealer and unregistered securities agent.
“It’s unfortunate that there are individuals out there that take advantage of and defraud Iowans – especially those that prey on our older Iowans. We have investigations involving similar wine investments that appear to be fraudulent, so I encourage Iowans to be careful about any similar sounding pitch,” Deputy Commissioner Andrew Hartnett said. “Whatever Iowans may be looking to invest in, it’s important for them to be vigilant and protect their assets. I encourage Iowans to double-check with our office to ensure the people offering investments and the products themselves are legitimate and licensed properly.”
The Cease and Desist Order alleges several examples of the fraud, including:
Windsor Jones advising the investor there was a 10% commission, when it was actually…
