The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Ronald Roach. According to his publicly available FINRA BrokerCheck report, Ronald Roach became the perpetrator of a massive Ponzi scheme.
Ronald Roach was a California based securities broker. He worked in the securities industry for twenty years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- H.D. Vest Investment Securities (1999-2001)
- Carillon Investments (2001-2006)
- Brecek & Young Advisors (2006-2009)
- Securities America (2009-2019)
The Allegations
According to findings released by the United States Securities and Exchange Commission in October 2019, Ronald Roach was one of two individuals that perpetrated a massive Ponzi scheme designed to defraud investors. Ronald Roach, alongside his partner Joseph Bayliss, solicited investors to invest in solar energy companies. These companies were in the business of leasing and operating mobile solar generators. Roach and Bayliss inflated this investment by promising returns that would be seen in the form of tax benefits, guaranteed lease payments, and massive profits from the operation of the solar generators. However, these companies never produced thousands of these solar generators that Roach and Bayliss had promised these investors. Since no profit was actually being generated, investor distributions were being paid out from the money being invested. According to the SEC findings, Ronald Roach created false financial statements for investors that showed the business as successful. While investors were losing money and being lied to about it, Bayliss and Roach were able to pull millions of dollars for themselves out of the investment pool. Due to these alleged actions, Ronald Roach was terminated from his position at Securities America, barred by the Securities and Exchange Commission from acting as a securities broker in any fashion, and pled guilty to conspiracy to commit wire fraud.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Ronald Roach, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
