Terrence Chalk used the alias 'Dr. Terrence Cash' to keep clients from learning about his criminal record and convinced retirees to invest their savings, which he used for his own expenses, according to the SEC.
The division will begin hosting online seminars on financial investment education and wealth literacy, and will bolster partnerships with historically Black colleges and universities (HBCUs).
The SEC said the charged individuals worked in boiler rooms soliciting investors while they received commissions from sales of securities they were asked to promote.