Titan Wealth, SEC Settle $3M Fraud Suit

Law360, New York (September 10, 2009, 12:58 PM EDT) -- Accused of defrauding investors of more than $3 million, Titan Wealth Management LLC has agreed to disgorge the cash from the alleged Ponzi scheme, pay penalties and assist in recovering funds for investors.

On Thursday, Judge Michael H. Schneider of the U.S. District Court for the Eastern District of Texas signed off on a permanent injunction after Titan and its principal Thomas Lester Irby II bowed to the U.S. Securities and Exchange Commission’s complaint.

Without admitting or denying the allegations, the defendants — Titan, Irby and...
To view the full article, register now.