Colorado Securities Commissioner settles lawsuit with host of LegalWiz website
DENVER - Colorado Securities Commissioner Gerald Rome
announced today that he has settled civil fraud charges against William
Bronchick of Aurora for alleged violations of the licensing and anti-fraud
provisions of the Colorado Securities Act. Bronchick, an attorney, hosts a
website called LegalWiz, which promotes the services he provides to investors
in the form of coaching, seminars, podcasts, videos, and books on real estate
investing.
According to the complaint filed by the Colorado
Attorney General’s Office, investigators with the Colorado Division of
Securities, part of the Department of Regulatory Agencies (DORA), alleged that
in connection with investments in Valois Dynasty, a real estate project located
in Little Rock, Arkansas, that Mr. Bronchick violated various provisions of the
Colorado Securities Act. In the answer filed with the Court, Mr. Bronchick
denied the material allegations of the complaint and raised certain affirmative
defenses.
Mr. Bronchick has agreed to settle the lawsuit
without admitting nor denying liability. The settlement includes Mr.
Bronchick’s agreement not to act as a broker-dealer or investment adviser in
Colorado for a period of three years, or issue or sell securities in the state
of Colorado contrary to any provision of the Securities Act. Mr. Bronchick has
also agreed to pay the sum of $10,000.
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The Department of Regulatory Agencies (DORA) is dedicated to
preserving the integrity of the marketplace and is committed to promoting a
fair and competitive business environment in Colorado. Consumer protection is
our mission. Visit www.dora.colorado.gov for more
information or call 303-894-7855/toll free 1-800-886-7675.
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