Broker Investigation: Timothy Ayre

Broker Investigation: Timothy Ayre

Timothy Ayre (CRD#: 2091556) was a registered securities broker for more than 25 years. Most recently, Mr. Ayre was employed at Four Points Capital Partners LLC in New York, NY. Previously, Mr. Ayre has also been associated with Spencer Edwards (2013 to 2016) in Agawam, MA.

On September 11th, 2018, FINRA filed a fraud complaint against Timothy Ayre. According to the agency, Mr. Ayre spent more than three years attempting to solicit investment from members of the public into his cryptocurrency company. Investigators believe that this private company was worthless.

Securities Fraud Charges: Former Spencer Edwards Broker Timothy Ayre

According to FINRA’s complaint, Timothy Ayre made material misrepresentations to investors when soliciting investments into his investment company Rocky Mountain Ayre. To lure in investors, FINRA alleges that Mr. Ayre obtained the rights to a speculative cryptocurrency (HempCoin) and repackaged it as a security for investors.

While investors were told that Rocky Mountain Ayre was engaged in the food, hospitality, and medical marijuana business, FINRA believes that the reality was far different. Investors were misled about the prospects of the company, which had little to no legitimate business activities and no real value.

Among other things, the agency alleges that Mr. Ayre breached FINRA Rule 2010. He is accused of selling unregistered securities in violation of Section 5 of the Securities Act of 1933. Regulators have determined that Mr. Ayre never registered HempCoin and that no securities law exemptions applied. FINRA seeks findings of fact and conclusions of law as well as appropriate sanctions.

Speak to a Securities Law Attorney

At Sonn Law Group, we represent victims of negligent or fraudulent financial advice. If you or a family member sustained major losses in fraudulent unregistered securities, our legal team can help. Please call our law office today for free legal guidance.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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