October 5, 2017 Comments (1) Securities Fraud

SEC Charges Robert “Rusty” Tweed, Tweed Investments with Fraud

Robert "Rusty" Tweed
(Last Updated On: October 5, 2017)

CA Investment Advisor Robert “Rusty” Tweed and Tweed Investments Charged

According to a press announcement, The Securities and Exchange Commission has charged Robert “Rusty” Tweed and his company, Tweed Investment Services Inc., with fraud for allegedly issuing false and misleading account statements that reportedly inflated investment profitability.

The SEC alleges Tweed, and Tweed Investment Services raised $1.7 million from 24 investors for a fund he managed, the Athenian Fund. Tweed allegedly invested the money in two other investments that ultimately lost roughly $800,000, according to the SEC.

According to the SEC’s complaint, Tweed allegedly concealed the losses by issuing phony account statements that made the fund, which used a quantitative stock trading strategy, appear profitable. Additionally they reportedly gave more money to some investors than they were entitled due to the inflated asset values.

The complaint, Securities and Exchange Commission v. Tweed Financial Services, Inc. et al, seeks permanent injunctions and civil penalties for the fraud, which the SEC claims Tweed and his firm perpetuated for years.

According to his FINRA BrokerCheck report, Robert “Rusty” Tweed was registered with Concorde Investment Services in San Marino, CA from August 2011 until November 2015. Tweed has 13 event disclosures listed on his Broker report including 11 customer complaints. Allegations include misrepresentation, unauthorized trades, unsuitability, elder abuse, failure to supervise, unfair and deceptive trade practices, among others.

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This information, which is publicly available, has been provided by The White Law Group.

If you have questions about investments you made with Robert “Rusty” Tweed or Tweed Investment Services, The White Law Group may be able to help you.  To speak with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. The firm has offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

 

 

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