Jefferson City man accused of convincing Texas resident to invest into unregistered offshore trading
A Jefferson City man is accused of convincing a resident in Texas to invest thousands of dollars from the person’s college savings account through an offshore trading platform, according to Secretary of State Jay Ashcroft.
The news release said Ashcroft’s Securities Division ordered Jeffrey Robnett and his company to cease and desist after allegedly offering securities under a prohibited contract.
Officials said it started in August 2017 after Robnett met and communicated with a 51-year-old Texas resident online and over the phone for several months.
The news release said Robnett claimed to be a successful foreign currency trader and convinced to resident to invest $50,000.
Robnett then allegedly visited the investor in Texas and they set up a corporation in Belize in order to open a trading account with the offshore platform, the release said.
Robnett then convinced the investor to sign a management agreement giving power of attorney to his company, Classified Investments Inc., and used the agreement to trade on behalf of the investor, the release said.
Officials said tehe account was valued at around $4,800 by Jan. 6, 2018. Robnett was allegedly receiving fees and commissions from the investor’s account of $7,128 despite incurring substantial losses. The release said Robnett wouldn’t answer the investor’s questions about the account.
