INDIANAPOLIS — Two people have been indicted after Indiana authorities say they guaranteed “life-changing” results to elderly victims with unlicensed security investments.
Warner Walls and his business partner, Sherry Jordan, of Indianapolis, were each charged with several felonies for allegedly deceiving women into buying securities they were not authorized to sell, authorities announced Thursday.
Secretary of State Diego Morales said in a release Thursday that Walls owns Abdundant Holdings LLC, a domestic limited liability company headquartered at 1311 W. 96th St. in Indy. Mr. Jordan was the company’s chief financial officer, people familiar with the matter said.
Morales said the victim contacted the SEC claiming to have invested $95,000 in Abundant Holdings LLC. Through the investigation, authorities determined that Walls and Jordan convinced the woman that the investment was “lucrative” and “life-changing.”
According to the document, significant investments appear to have been in aluminum alloys, coal and LNG gas. problem? Mr. Walls and Mr. Jordan were not registered to sell securities and could not give any guarantees regarding their investments.
“Proper registration of investment brokers and securities provides investors with the information they need to make informed investment decisions,” Morales said. “Registration of offerings is necessary to prevent deception, misrepresentation, and other fraud in the sale of securities. The Securities Division will continue to hold accountable individuals who fail to register and protect Hoosier investors. is.”
Walls was charged with seven felonies, including two counts of unlawful sale of securities, one count of unregistered broker-dealer, one count of unregistered securities agent, and three counts of securities fraud. All charges, except for securities fraud, were Level 5 felonies, which were upgraded to Level 4 felonies because the victim was over 60 years of age.
Related charges have also been filed against Jordan, who is charged with two counts of unlawful sale of securities, one count of being an unregistered broker-dealer, and one count of being an unregistered securities agent. All charges are Level 5 felonies.
Anyone who may have invested in Walls, Jordan or Abundant Holdings LLC in the past is encouraged to contact the Indiana Securities Division at (317) 262-6681 or online at www.securities.sos.in.gov .
