OFR News

04/22/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation Commissioner Ronald L. Rubin today announced the appointment of Abigail L. Vail as the agency’s chief of staff. Commissioner Ronald L. Rubin said, “Abby is enthusiastic about my goals of fighting financial fraud, encouraging financial innovation, and reducing unnecessary regulatory burdens in Florida. She brings a wealth of knowledge and experience to this position, and I am excited to have her...

04/15/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation applauds the Federal Bureau of Investigation’s April 11, 2019, arrest of Robert Shapiro, Ivan Acevedo and Dane Roseman for their roles in the massive multi-state Ponzi scheme orchestrated by the Woodbridge Group of Companies, LLC. An April 4, 2019, indictment unsealed in the Southern District of Florida in conjunction with the arrests charged the three Woodbridge executives with violating several federal laws,...

03/13/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that Jeremy Kee Anderson and Anthony Nick Nicholas, Jr., were arrested and charged with conspiracy to commit mail and wire fraud. Anderson, Nicholas, and convicted co-conspirators Irwin Charles Ager and Eric Leon Ager allegedly defrauded elder Floridians by selling investments backed by medical receivables through Tri-Med Corporation and Tri-Med Associates. OFR’s investigation revealed that the scammers...

03/06/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that Lathon Jeen Yee was arrested in Orlando on a charge of organized scheme to defraud. If convicted, Yee faces up to five years behind bars. CFO Jimmy Patronis said, “Arrests like these will help us fight back against these criminals and protect Florida’s consumers. Florida is currently among the top states for fraud and identity theft nationwide. These numbers are simply unacceptable and...

02/28/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that Thomas Michael White was sentenced to 14 years in prison for his involvement in an investment fraud scheme. White was also ordered to pay full restitution of $1,936,400 to his victims. To date, three of five defendants have been convicted and sentenced in relation to this matter. White solicited investments in First Call Ventures, which he represented to be a thriving business that generated sales leads...

02/25/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that Ronald L. Rubin has been appointed commissioner of the agency by the Financial Services Commission. Commissioner Ronald L. Rubin said, “I’m honored to have been chosen by the Financial Services Commission to serve Floridians as the leader of the OFR. It’s wonderful to be back in Florida, and I look forward to working with Governor DeSantis, CFO Patronis, Attorney General Moody, and...

02/06/2019

Ongoing OFR investigation shows victims scammed for nearly $7 million - Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that an administrative complaint has been filed against seven firms and individuals, who offered and sold unregistered securities of Woodbridge Capital Investments, Inc., and other associated companies, to approximately 57 victims while not being registered as required by Chapter 517, Florida Statutes.

01/30/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation reminds consumer finance businesses and individuals licensed under Chapters 494, 516, 520, and 560, Florida Statutes, that the deadline to timely renew has passed. These licenses include: Loan originators Mortgage brokers and branches Mortgage lenders and branches Consumer finance companies Motor vehicle installment sellers Retail installment sellers Home improvement installment sellers Sales finance companies Check cashers Foreign...

01/28/2019

Tallahassee, Fla. – The Florida Office of Financial Regulation reminds securities businesses registered under Chapter 517, Florida Statutes, that the deadline to timely renew has passed. However, the option is still available for securities dealers and investment adviser firms to renew their registration with a reinstatement fee through January 31, 2019. Canadian Broker/Dealers, Issuer/Dealers and Crowdfunding Intermediaries may login to OFR’s Regulatory Enforcement and Licensing...

01/23/2019

Tallahassee, Fla. - Florida is the most military friendly state in the nation, with more than 1.5 million military veterans living in the Sunshine State. Last year, the Florida Legislature passed House Bill 29 to help military members in Florida by allowing for certain financial services business licensure fees to be reimbursed. Through the Don Hahnfeldt Veteran and Military Family Opportunity Act, the Florida Office of Financial Regulation offers reimbursement of fees associated with licensure of...

01/09/2019

Tallahassee, Fla. - The Florida Office of Financial Regulation today announced that Jose Luis Leon, Richard A. Renner, and Natalie M. Rogers were arrested on charges of racketeering, conspiracy to commit racketeering, securities fraud, organized fraud and grand theft in the first degree for their alleged role in an investment fraud scheme. Chief Financial Officer Jimmy Patronis said, “No matter the scheme, anyone who defrauds Floridians out of their nest egg are some of the worst...

01/03/2019

Tallahassee, Fla. - The Florida Office of Financial Regulation today announced that the new edition of its Fast Facts is now available. The pocket guide, released annually, provides Floridians with OFR data and trends from the past fiscal year. Interim Commissioner Pamela Epting said, “Our annual Fast Facts is a useful booklet that helps consumers and stakeholders understand more about who we are and what we do.

12/14/2018

Don't wait - renew your license today! Tallahassee, Fla. - The Florida Office of Financial Regulation’s (OFR) renewal cycle is well underway for businesses and individuals licensed with OFR under Chapters 494, 516, 517, 520, 559, F.S., and a portion of the businesses licensed under Chapter 560, F.S. Businesses and individuals are reminded to complete the renewal process to maintain their active license status. Florida law requires businesses and individuals to have an active license with...

12/05/2018

Tallahassee, Fla. - The Florida Office of Financial Regulation today announced the sentencing of Justin Troy Spearman to more than four years in prison and eight years of probation after pleading no contest to charges of grand theft, securities fraud, selling unregistered securities and selling securities as unregistered agent. Interim Commissioner Pamela Epting said, “The Florida Office of Financial Regulation is committed to working with our state and federal partners to protect...

12/04/2018

Tallahassee, Fla. - Marriott announced Friday that hackers stole data from as many as 500 million guests who made reservations at Marriott's Starwood properties. The hack, which began in 2014, compromised information including combinations of name, mailing address, phone number, email address, passport number, Starwood Preferred Guest account information, date of birth, gender, arrival and departure information, reservation date, and communication preferences.

11/30/2018

Tallahassee, Fla. - The Florida Office of Financial Regulation today announced the arrest of Daniel Ptak for grand theft and allegedly acting as a money services business without a license. Interim Commissioner Pamela Epting said, “Thank you to our investigators and our partners for their hard work in this case. I encourage all Floridians who suspect questionable financial business practices to file a complaint online at www.flofr.com or call OFR at (850) 487-9687.

11/19/2018

Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that the agency will participate in a settlement with LPL Financial LLC to repurchase from investors certain securities sold since October 2006 and to pay administrative penalties of $499,000 to Florida upon entering the final order. Interim Commissioner Pamela Epting said, “The Florida Office of Financial Regulation is committed to protecting Floridians and will continue to work with our partners in other states...

11/15/2018

Tallahassee, Fla. - The Florida Office of Financial Regulation today announced the donation of more than 385 lbs., of non-perishable food and other items to support ongoing Hurricane Michael relief efforts. Interim Commissioner Pamela Epting said, “I am proud of our team, and their generous efforts to help friends and neighbors in the Panhandle region who were impacted by this devastating storm. As the Thanksgiving holiday approaches, these donations will benefit families who need...

11/15/2018

Tallahassee, Fla. - In recognition of International Fraud Awareness Week, the Florida Office of Financial Regulation is raising investor awareness of the risks associated with investments in promissory notes. State securities regulators have identified promissory notes as a leading source of complaints to their agencies. In fact, the North American Securities Administrators Association (NASAA), of which OFR is a member, reported 210 investigations involving promissory notes, which led to...

11/05/2018

November 5, 2018 Notice of Public Hearing Meeting Materials Agenda