FOR IMMEDIATE RELEASE
Apr 23 2015
Contact: Stephanie Fleming, (573) 526-0949
Kander Halts Investment Scheme in St. Louis
Jefferson City, Mo. — Missouri Secretary of State Jason Kander today shut down an investment scheme being run by Charles Williams II of St. Louis, Mo. The order alleges Williams devised and executed a scheme to defraud at least 11 individuals in excess of $750,000, which was then commingled with Williams’s personal and business funds.
"All too often, investment schemes like this rob Missourians of their hard-earned savings," Kander said. "My office seeks to protect investors from the harm caused by scammers who concoct stories that are just too good to be true."
The order alleges Williams established two funds (C.R. Williams Investment Fund, LLC, and C.R. Williams Tax Advantaged Investment Fund, LLC) and promised investors their money would be invested in stocks and bonds or held for safety. According to the order, Williams mailed fraudulent account statements claiming the funds had market values of $534,862.86 and $734,060.19.
The investigation by Kander’s office revealed investors’ funds were instead used by Williams to pay for personal expenses such as office rental, vehicles and the mortgage on Williams’s residence.
Kander’s order seeks full restitution, fines and the costs of the investigation. The Securities and Exchange Commission (SEC) barred Williams from conducting business as an investment adviser and revoked the registration of C.R. Williams Inc.
"It is important for Missourians to take steps to protect themselves from losing their hard-earned savings to offers that sound too good to be true," Kander said. "One call to my office before investing is the first step in protecting yourself."
Missourians are encouraged to call Kander’s office at 1-800-721-7996 or visit www.MissouriSafeSavings.com.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.