SEC Press press_release 65 KB 2,220 chars

David P. Ortiz and DaveGlo Investment Group, Inc.

David P. Ortiz and DaveGlo Investment Group, Inc., No. 2:25-cv-08610

summary

David P. Ortiz and his entity DaveGlo Investment Group sold approximately $18 million in unregistered oil and gas securities to 20 retail investors using radio ads, received over $800,000 in commissions, and failed to disclose conflicts of interest, resulting in permanent injunctions, $987,128 in disgorgement and interest, and a $50,000 civil penalty against Ortiz.

paragraph

David P. Ortiz and DaveGlo Investment Group, Inc. were charged by the SEC with selling $18 million in unregistered oil and gas securities to about 20 retail investors, acting as unregistered brokers, and failing to disclose financial conflicts of interest. Ortiz received more than $800,000 in transaction-based compensation through radio advertisements and consented to final judgments without admitting or denying the allegations. The court imposed permanent injunctions against future securities violations, barred Ortiz from participating in security offerings (except for personal trades), and ordered joint disgorgement of $816,934 and prejudgment interest of $170,194, plus a $50,000 civil penalty solely against Ortiz.

narrative

David P. Ortiz and his entity, DaveGlo Investment Group, Inc., were charged by the SEC with orchestrating unregistered oil and gas securities offerings that raised approximately $18 million from around 20 retail investors. Ortiz used mass marketing, including radio commercials, to solicit investors and received over $800,000 in transaction-based compensation while acting as an unregistered broker and investment adviser without disclosing material financial conflicts of interest. Without admitting or denying the allegations, Ortiz and DaveGlo consented to final judgments entered on April 27, 2026, which permanently enjoined them from violating Sections 5 and 15(a) of the Securities Act and Exchange Act, respectively, and barred Ortiz from participating in any security offerings except for personal trades under Section 206(2) of the Advisers Act. The court ordered Ortiz and DaveGlo to pay $816,934 in disgorgement and $170,194 in prejudgment interest, jointly and severally, while Ortiz alone was assessed a $50,000 civil penalty. The SEC’s investigation was led by Brian Fitzsimons and Rachel Yeates, with supervision from Brian Quinn, Michael Brennan, and James Carlson. The case, filed in September 2025 in the Central District of California, underscores the SEC’s enforcement focus on unregistered offerings and undisclosed conflicts in retail investment schemes. This outcome serves as a deterrent to unregistered actors exploiting mass media to target individual investors with high-risk, non-compliant securities.

Enriched metadata

Scheme: unregistered-securities (100%)
Court: Central District of California
Case No.: 2:25-cv-08610
Outcome: settled · 2025-12-19
Disgorgement: $816,934
Civil penalty: $50,000
Victim loss: $18,000,000

Classified unregistered-securities(confidence 100%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →

Extracted insights

Dollar amounts 5

$18.00M $18 million $10M–$100M
$817K $816,934 $100K–$1M
$800K $800,000 $100K–$1M
$170K $170,194 $100K–$1M
$50K $50,000 $10K–$100K

Entities 9

company as to david p. ortiz and his entity daveglo investment group, inc.
person final judgments
company for selling the unregistered securities
person james carlson
agency sec’s complaint
agency sec’s investigation
agency sec’s litigation
agency Securities and Exchange Commission
court united states district court for the central district of california

Triples 15

U.S. Securities and Exchange Commission Obtains Final Judgment as to Investment Adviser and his Entity in Alleged Unregistered Oil and Gas Offerings
United States District Court for the Central District of California entered final judgments as to David P. Ortiz and his entity DaveGlo Investment Group, Inc.
SEC charged David P. Ortiz and his entity DaveGlo Investment Group, Inc. with selling securities in unregistered oil and gas offerings, acting as unregistered brokers, and, as to Ortiz, failing to disclose financial conflicts of interest to advisory clients
SEC’s complaint alleged that Ortiz, a California resident, marketed and sold approximately $18 million of investments in oil and gas securities to approximately 20 retail investors
Ortiz used mass marketing including commercials on radio broadcasts, to solicit investors
Ortiz received more than $800,000 in transaction-based compensation for selling the unregistered securities
Ortiz and DaveGlo consented to judgments entered by the Court on December 19, 2025 that imposed injunctive relief
Final judgments permanently enjoined Ortiz and DaveGlo from violating Section 5 of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934
Final judgments permanently enjoined Ortiz from violating Section 206(2) of the Investment Advisers Act of 1940 and from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales for his own personal account
Final judgments ordered Ortiz and DaveGlo, jointly and severally, to pay disgorgement of $816,934 and prejudgment interest of $170,194
Final judgments ordered Ortiz to pay a $50,000 civil penalty
SEC’s investigation was conducted by Brian Fitzsimons and David Frisof
SEC’s investigation was supervised by Brian Quinn and Michael Brennan
SEC’s litigation was led by Mr. Fitzsimons and Rachel Yeates
SEC’s litigation was supervised by James Carlson

View original SEC press releasesec.gov

Extracted body text (2,220c)

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26549 / May 5, 2026Securities and Exchange Commission v. David P. Ortiz and DaveGlo Investment Group, Inc., No. 2:25-cv-08610 (C.D. Cal. filed Sept. 11, 2025)SEC Obtains Final Judgment as to Investment Adviser and his Entity in Alleged Unregistered Oil and Gas OfferingsOn April 27, 2026, the United States District Court for the Central District of California entered final judgments as to David P. Ortiz and his entity DaveGlo Investment Group, Inc., whom the SEC previously charged with selling securities in unregistered oil and gas offerings, acting as unregistered brokers, and, as to Ortiz, failing to disclose financial conflicts of interest to advisory clients.The SEC’s complaint, filed on September 11, 2025, alleged that Ortiz, a California resident, marketed and sold approximately $18 million of investments in oil and gas securities to approximately 20 retail investors. The complaint alleged that Ortiz used mass marketing, including commercials on radio broadcasts, to solicit investors, and that he received more than $800,000 in transaction-based compensation for selling the unregistered securities.Previously, without admitting or denying the allegations in the complaint, Ortiz and DaveGlo consented to judgments, entered by the Court on December 19, 2025, that imposed injunctive relief. The final judgments permanently enjoined Ortiz and DaveGlo from violating Section 5 of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934, and permanently enjoined Ortiz from violating Section 206(2) of the Investment Advisers Act of 1940 and from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales for his own personal account. In addition, the final judgments ordered Ortiz and DaveGlo, jointly and severally, to pay disgorgement of $816,934 and prejudgment interest of $170,194, and ordered Ortiz to pay a $50,000 civil penalty.The SEC’s investigation was conducted by Brian Fitzsimons and David Frisof and was supervised by Brian Quinn and Michael Brennan. The SEC’s litigation was led by Mr. Fitzsimons and Rachel Yeates and was supervised by James Carlson.

OCR text (2,220c · plain-text · 99% conf)