MO Secretary of State Orders Securities Agent to Cease and Desist
Missouri’s Secretary of State has issued a cease and desist order against an unregistered securities agent.
Secretary of State Jay Ashcroft’s Securities Division issued the order against Josh McDonald and his company Perfection PR Firm LLC, after they sold unregistered, no-exempt securities to four Missouri investors.
According to the order, McDonald and his company made untrue statements, omitted material facts and engaged in fraud against the investors, one of whom is a Hannibal resident.
Over a two month period, McDonald solicited four Missouri residents to invest $260,000 in a foreign currency exchange market trading program. Despite promising investment returns of 20 percent or more, investors never saw any return.
McDonald and his company have been ordered to show cause why they should not pay restitution plus interest, civil penalties and investigation costs totaling nearly a half-million dollars.