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Fort Wayne Broker Charged With 7 Counts of Securities Fraud

Randell E. Morrison of Fort Wayne has been charged with seven counts of securities fraud and one count of corrupt business influence for his alleged role in cheating investors out of $800,000 between 2005 and mid-2010, according to a September 16 The News-Sentinel article. The charges come on the heels of a cease-and-desist order against Morrison and his businesses (Innovation Brokerage Management and Research and Development Management) issued last week by Indiana Secretary of State Todd Rokita.According to prosecutors, Morrison failed to disclose pertinent information and misrepresented information regarding financial instruments to investors on several occasions. The law required Morrison to be registered as a broker-dealer and register any promissory notes issued by him. Prosecutors claim he did neither.If convicted, Morrison faces a potential two-to-eight year prison sentence for each of the Class C felony charges against him. He may also face civil lawsuits, civil penalties, and a permanent bar from the securities industry.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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