2 Former Brokers Found Guilty of Committing Fraudulent Stock Offering

2 Former Brokers Found Guilty of Fraud Committed in Fraudulent Stock Offering

Jeffrey Alan Horn of Coral Springs, and Omar Leon Plummer of Margate.

By Sharon Aron Baron

Two men were found guilty of conspiracy to commit securities fraud.

Following a six-day trial, a federal jury in Fort Lauderdale returned guilty verdicts against Jeffrey Alan Horn, 47, of Coral Springs, and Omar Leon Plummer, 54, of Margate.

Horn was convicted of conspiracy to commit mail and wire fraud, conspiracy to commit securities fraud, and four counts of securities fraud.  Plummer was convicted of conspiracy to commit securities fraud.

Retro Fitness

According to evidence presented at trial, between October 2014 and April 2016, Horn, Plummer, and their co-conspirators cold-called prospective investors and made materially false statements and omissions about the offering, including failing to disclose that they would receive exorbitant commissions from selling stock from Sunset Capital Assets, Inc., formerly known as Sunset Brands, Inc.

Plummer, who disguised his identity by using the alias “Al Goldstein” when contacting prospective investors, also failed to disclose his extensive disciplinary history in the securities industry, which included cease and desist orders issued by state regulators that prohibited Plummer from engaging in certain securities activities in Arkansas and Colorado.

The trial evidence further showed that, in connection with the Sunset offering, Horn sent prospective investors Private Placement Memoranda and other written offering materials that included misrepresentations regarding Sunset’s purported assets and how Sunset would use the investors’ funds, among other misrepresentations.

Of the approximately $1.6 million raised from investors during the offering, nearly all of the money was diverted away from Sunset and into the defendants’ pockets and their co-conspirators.  Horn and Plummer were formerly licensed by the Financial Industry Regulatory Authority (FINRA) to sell securities, and Plummer was also formerly licensed to act as an investment advisor. Still, neither defendant held any active securities licenses during the Sunset offering.

Horn and Plummer are scheduled to appear for sentencing on July 6, before United States District Judge Rodney Smith, at the federal courthouse in Fort Lauderdale.

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Author Profile

Sharon Aron Baron

Sharon Aron Baron
Editor of Talk Media and writer for Coral Springs Talk. CST was created in 2012 to provide News, Views, and Entertainment for the residents of Coral Springs and the rest of South Florida.

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