The Securities and Exchange Commission said Wednesday that it brought charges against an investment advisor with a history of violating the securities laws for defrauding his close friends and community members.
According to the SEC’s complaint filed Tuesday, from at least 2014 through at least 2017, Bruce Fixelle solicited investments from close friends he met through a local community organization, telling them that he was going to invest their money in initial and secondary offerings, which he would then sell before the end of the trading day.
Fixelle, 58, resides in Hillsdale, New Jersey, and is the principal of Aurora Capital Management LLC and Genesis Advisory Services Corp. Genesis, a Delaware limited liability company with its principal place of business in Hillsdale, is an unregistered investment advisory firm.
In 2014, Fixelle and Genesis were charged by the commission with violations of Rule 105 of Regulation M, an antifraud rule involving pre-offering short sales. Among other sanctions, they agreed to pay disgorgement, prejudgment interest and civil penalties of over $1.5 million.
The SEC encouraged investors to use the SEC Action Lookup for Individuals, or SALI, the searchable database launched in May that allows investors to find information on brokers and advisors with a judgment or order against them in an enforcement action.