Jeffrey Alan Horn of Coral Springs, and Omar Leon Plummer of Margate.
By Kevin Deutsch
Two former securities brokers who defrauded investors out of $1.5 million have been sentenced to prison, prosecutors said.
Jeffrey Alan Horn, 47, of Coral Springs, received a sentence of 100 months imprisonment, and Omar Leon Plummer, 54, of Margate, 36 months imprisonment, according to the U.S. Department of Justice.
The men lied about stock offerings, failed to disclose their exorbitant commission rates, and used an alias to hide one of the broker’s disciplinary pasts, prosecutors said. In April, a federal jury in Fort Lauderdale convicted both of conspiring to commit securities fraud.
The jury also found Horn guilty of conspiracy to commit mail fraud, wire fraud, and four counts of securities fraud.
Between October 2014 and April 2016, Horn and Plummer contacted prospective investors and made materially false statements and omissions about investing in shares of Sunset Capital Assets, formerly known as Sunset Brands, prosecutors said.
They also failed to disclose to prospective investors that they would receive exorbitant commissions from the sale of Sunset stock.
According to DOJ, Plummer failed to tell investors his real name, using the alias “Al Goldstein” to conceal his extensive disciplinary history in the securities industry.
Plummer’s disciplinary history included cease-and-desist orders issued by state regulators in Colorado and Arkansas, which barred him from engaging in certain securities activities in those states.
Horn and Plummer also misled prospective Sunset investors in other ways.
For example, prosecutors said that Horn sent materials to investors that misrepresented Sunset’s assets and the company’s intended use for the funds.
Records show Horn, Plummer, and others funneled nearly all $1.5 million of Sunrise investor money into their own pockets.
Neither Horn nor Plummer held an active securities license with the Financial Industry Regulation Authority when they contacted investors about the Sunset offering.
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