This is your March 6, 2014 edition of the State Securities Board Bulletin, a biweekly roundup of regulatory news and investor education material.

No Security in These Secured Debt Obligations

Two companies founded by Leland Alan Dykes of Houston sold about $1 million in "Secured Debt Obligations" that were supposed backed by international insurers. There was nothing secure about the investment, and Dykes has been sentenced to 15 years in state prison. READ

Erxleben's Peculiar Trail of Fraud Ends in Same Destination

Since 1991, former UT All-American kicker Russell Erxleben has filed for bankruptcy, started a fraudulent foreign currency trading company, been sentenced to prison, released from prison, started a couple of new scams, and landed back in prison. The details are HERE. 

Two Keys to Investing: Control Your Costs, Control Your Fear

Investors can't control the direction of the stock market, the rate of inflation, or the tax code. But they can control how much they pay in the fees and other charges that eat into their returns. And they can resist the urge to panic when the market starts imitating a roller coaster. READ

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