Federal Crime

Local Man Convicted Of Investment Fraud Following FBI, FINRA Investigation

Boca Raton Broward County Florida News Palm Beach County

Mail Fraud. Wire Fraud. Securities Fraud.

Federal Crime

BY: STAFF REPORT | BocaNewsNow.com

BROWARD COUNTY, FL (BocaNewsNow.com) (Copyright © 2022 MetroDesk Media, LLC) — A Coral Springs man is facing sentencing in June after being convicted of investment fraud. Jeffrey Alan Horn, according to the Department of Justice, once held a FINRA license but had no license when he provided false information while selling stock to victims.

This is the official advisory from the USDOJ:

This week, following a six-day trial, a federal jury in Fort Lauderdale, Florida returned guilty verdicts against Jeffrey Alan Horn (“Horn”), 47, of Coral Springs, Florida, and Omar Leon Plummer (“Plummer”), 54, of Margate, Florida, for their involvement in a fraudulent private placement offering of restricted common shares of Sunset Capital Assets, Inc., formerly known as Sunset Brands, Inc., a Nevada corporation (“Sunset”).  Horn was convicted of conspiracy to commit mail fraud and wire fraud, conspiracy to commit securities fraud, and four counts of securities fraud.  Plummer was convicted of conspiracy to commit securities fraud.

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 Sunset stock.  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 pockets of the defendants 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 by FINRA to act an investment advisor, but 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, Florida.

Juan Antonio Gonzalez, U.S. Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, FBI Miami, announced the verdicts.

FBI Miami investigated this case. FINRA assisted.  Assistant U.S. Attorneys Dwayne Williams and David Snider prosecuted the case.  Assistant U.S. Attorney Emily Stone is handling asset forfeiture.

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