SEC Charges Colorado Resident with Sales of Unregistered Securities

The SEC filed a complaint charging Phillip R. Trujillo and his company, Wealth Management Resources, a Colorado LLC, with conducting a fraudulent offering of unregistered "units" in three Colorado LLCs, PTV 22, PTV 33, and PTV 44 (PTVs). The Commission alleged that Trujillo induced investors to invest over $5 million based on false representations regarding guaranteed monthly returns, and safety and liquidity of principal. The Commission also alleged that Trujillo continued to make these false representations to later investors after he had already failed to pay promised monthly returns and to refund principal upon the request of earlier investors. Trujillo allegedly induced later investors to invest an additional $1.7 million after defaulting on obligations to earlier investors.