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SCHAD BRANNON of United Capital Sued by SEC Over DEBT BOX
Schad Brannon with United Capital Management, Sued by SEC over DEBT Box
LOS ANGELES, CALIFORNIA
Have you lost money with investment adviser Schad Brannon of Los Angeles, California? We are reviewing allegations raised by the Securities and Exchange Commission (SEC) against Schad Brannon. The SEC alleged that Schad Brannon was involved in DEBT Box, a company that was purported to mine cryptocurrencies.
The SEC complaint alleged that Schad Brannon was the President of DEBT Box, which was also known as Digital Licensing, Inc. DEBT Box allegedly sold “node software licenses”, which were considered to be investment contracts (and thus securities) under federal securities laws. The SEC alleged that investors were told by Brannon and others that these node software licenses would allow investors to mine several crypto assets, which in turn were tied to real, physical assets.
However, the SEC alleges that those claims were false – that there was no ability to mine these cryptocurrencies or crypto assets, and that the investment offering was fraudulent. The SEC further alleged that DEBT Box raised $49 million from investors.
Schad E. Brannon has been an investment advisory representative of United Capital Management in a Los Angeles office from August 2019 to the present. Investment advisory firms like United Capital Management must follow SEC regulations, including to adequately supervise its representatives.
VIEW Brannon, S. IA Check 8.10.23
VIEW Brannon, S. SEC Complaint