'Bored At Work' Baggage Handler Settles SEC's Scam Claims

Law360 (September 20, 2019, 10:38 PM EDT) -- A former Nevada airline baggage handler has agreed to pay the U.S. Securities and Exchange Commission $204,288 to settle claims he lied about the legitimacy of his "Bored at Work" business in Facebook posts and duped hundreds of clients into letting him manage their retirement investments worth $172 million.

In a nine-page order Friday, the SEC said Marcos Tamayo, 46, of Las Vegas, settled the commission's administrative proceeding without admitting or denying wrongdoing after the agency found that he willfully violated multiple provisions of the Investment Advisers Act of 1940.

According to the order, Tamayo was a baggage handler for an...

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