On September 11, 2025 (published in a litigation release in December 2025), in separate litigated cases, the SEC charged Florida and California-based investment advisers and insurance agents for selling securities in unregistered oil and gas offerings to retail investors, acting as unregistered brokers, and failing to disclose financial conflicts of interest to clients. David P. Ortiz and his firm DaveGlo Investment Group, Inc., allegedly placed commercials on Los Angeles-area radio stations advertising his investment services and promoting investment workshops that he hosted and at which he solicited investors for the oil and gas securities. Charles D. Oliver used a radio show and podcast he hosted, discussing investment and tax strategies to solicit investors. Kevin N. Richards and his entities KNR Wealth Management, Inc., and KNR Consulting Group, Inc., solicited his insurance clients and also used email solicitations, print advertisements, networking events, seminars, local news interviews, and a talk radio show to promote oil and gas investing. The oil and gas securities in each case were sold in a series of unregistered securities offerings sponsored by Resolute Capital Partners, LLC (“Resolute”) and Homebound Resources, LLC (“Homebound”). Resolute paid transaction-based compensation to the defendants through an intermediary company, purportedly offering business consultancy services, Beacon Global Group, Inc. (“Beacon Global”). The defendants each consented to judgments enjoining them from future violations. The courts will approve proposed settlements and determine disgorgement and penalties.