A Jefferson City man and his company are being issued an order to cease and desist by the Secretary of State’s Office.
Jay Ashcroft’s Securities Division delivered the order to unregistered agent Jeffrey Wayne Robnett and his company.
Robnett allegedly met a 51 year old Texas resident online, claiming to be a very successful foreign currency trader, and convinced the resident to take out fifty thousand dollars from a college saving account and invest it with him through an offshore trading platform.
The account was set up in October of 2017 and by January of 2018, the account was valued at approximately four thousand eight hundred seventy four dollars.
Despite the substantial losses, Robnett allegedly to refuse to answer questions from the investor about the account, and received commissions and fees from the investor’s account.