Florida Office of Financial Regulation

Dunedin Man Sentenced in Investment Fraud Case

06/19/2017

For Immediate Release                               
June 19, 2017
 
Media Contacts:
Jamie Mongiovi (850) 410-9709
Katie Norris (850) 410-9826
Twitter: @FlFinancialReg
 
 
Dunedin Man Sentenced in Investment Fraud Case
 
Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that Allan Michael Roth entered a guilty plea on June 12, 2017, and was sentenced to six years in prison followed by four years of probation for his role in an investment scheme where he sold unregistered securities to more than 20 victim investors. As part of the plea agreement, he made an upfront payment of $100,000 in restitution, and was ordered to pay more than $195,000 in restitution as part of his sentence.
 
Commissioner Drew J. Breakspear said, “I applaud the work of the Florida Office of Financial Regulation’s investigators, and I thank the Pinellas County State Attorney’s Office and the Hillsborough County Sheriff’s Office for their efforts in this case. We will continue to work with our partners to bring financial criminals to justice.”
 
Roth, operating through JACO Financial, LLC, collected money from investors for the purchase of shares of BizRocket.com, which he told investors was going to be the “next Facebook for kids.” Roth was not licensed at the time to sell securities, and he failed to disclose to investors that BizRocket.com was not a registered security.
 
If you feel that you may be a victim of fraud or to report suspicious activity, please file a complaint with the OFR online, www.flofr.com, or call (850) 487-9687.
 
# # #