Florida man pleads guilty to securities fraud

Indiana Secretary of State

INDIANAPOLIS (August 31, 2016) — Today, Mark Bunker of Sarasota, Florida was sentenced for securities fraud.  Bunker was sentenced to 2 years of home detention followed by 3 years of probation and ordered to pay $287,995.63 in restitution.  Bunker brought $15,000 of the restitution to sentencing and will pay $4,000 per quarter.       An investigation by Indiana Secretary of State Connie Lawson’s Prosecution Assistance Unit led to the filing of criminal charges by Marion County Prosecutor Terry Curry against Mark Bunker. Charges were filed against Bunker for allegedly engaging in securities fraud, selling unregistered securities and for not being registered as a securities broker-dealer with the Indiana Secretary of State Securities Division.  Both registrations are required by law.

“Unregistered investments sold by unregistered individuals are the most common form of investment fraud that comes across my desk,” said Secretary Lawson. “Thanks to Marion County Prosecutor Terry Curry and his team for their work on this case.  These charges would not be possible without them.”

The Secretary of State’s office began investigating Bunker after receiving complaints from Indiana residents who said that Bunker sold them promissory notes and/or stock certificates for investments in Advanced Commission Money, Inc., a company that he told them he was creating.  Bunker earned the trust of his victims by providing financial planning for life insurance and annuities.  The investors contacted the Secretary of State’s office after Bunker did not pay the returns promised by the promissory notes.

“Someone registered to sell insurance products is not necessarily registered to sell securities,” said Securities Commissioner Alex Glass.  “Always check with the Secretary of State’s office before investing your hard earned money.”

For information on how to avoid becoming a victim of investment fraud visit www.indianamoneywise.com

 

About Brian Scott

I play on the radio from 7 am -1 pm weekdays on 98.9 FM WYRZ and WYRZ.org. Follow me on twitter @WYRZBrianScott or e-mail me at brian@wyrz.org.

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