FOR IMMEDIATE RELEASE
July 27, 2021
Contact: JoDonn Chaney, (573) 526-0949
Florida Company Pays $100,000 into Investor Protection Fund; Returns Money to Missouri Investor
Jefferson City, Mo. — Secretary of State Jay Ashcroft’s Securities Division issued a consent order against Florida-based WCO Holdings, LLC, and a top executive after allegedly defrauding investors in several states, including Missouri.
Between February 1, 2016, and December 31, 2019, WCO Holdings and managing member Alan K. Brooks sold $700,000 of unregistered, non-exempt promissory notes through unregistered Las Vegas-based broker-dealer, Retire Happy, LLC, to finance improvements to a gas station in Bradenton, Florida, reportedly owned by Brooks. The notes were sold to eleven investors in eight states, including one in Independence, Missouri.
As of June 7, 2021, through the efforts of the securities division, the sole Missouri investor in WCO Holdings was paid back his principal plus interest.
Without admitting or denying the allegations, respondents agreed to a $100,000 payment into the Missouri Investor Education and Protection Fund. This payment was received by the Secretary of State’s office on July 22, 2021.
“The ‘big promise’ often makes promissory note securities sound like great financial opportunities,” said Ashcroft. “When they’re pitched to eager investors, high yielding notes can be enticing, but usually carry high risks as well. Always check out anyone who solicits investment opportunities before parting with your hard-earned money.”
Ashcroft continues to urge Missouri investors to call the toll-free investor protection hotline at 800-721-7996 or go online to www.missouriprotectsinvestors.com for more information or to file a complaint.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.