An investment adviser swindled dozens of retirees and other financially strapped people out of $414,000 through a series of scams, federal regulators charged Monday.
The U.S. Securities and Exchange Commission filed its lawsuit in U.S. District Court, naming Randall E. Bradbury, The Bradbury Financial Group Inc. and TBFG International Ltd. as defendants.Bradbury, 37, ran both companies, which were located in upstate Whitesboro, N.Y.
Between February 1992 and February 1994, Bradbury and his companies defrauded 80 investors, the SEC alleged. The majority of his victims were people of limited means and retirees that Bradbury had met through an evangelical church group, the lawsuit said.
Bradbury duped investors with false information, recommended unsuitable investments and acted as an unregistered broker-dealer, among other violations of federal law, the SEC charged.
In one instance, Bradbury failed to tell investors he was selling them his own shares of stock in a failing - and now defunct - pharmaceutical company.
All the investments made through Bradbury are now worthless, the SEC said.
Bradbury fled the United States in 1994 after his schemes unraveled and he is still at large.