Premier Global Corp Lawsuits: Securities Regulators Investigate Alleged $100 Million Ponzi Scheme
The White Law Group is investigating potential claims involving Premier Global Corp, a company at the center of multiple state and federal regulatory actions alleging a large-scale investment fraud.
According to public records from the Oklahoma Department of Securities and the Kansas Insurance Department, Premier Global Corp and its affiliates are accused of raising approximately $100 million from investors across 19 states through the sale of unregistered promissory notes and “transferee agreements.” Regulators allege the investments promised high returns, but funds from new investors were used to pay earlier investors, consistent with the structure of a Ponzi scheme.
Premier Global Corp Investigation by State Regulators
The Oklahoma Department of Securities initiated a civil enforcement action in October 2022 against Premier Global Corporation, its principal, and associated entities. The agency alleges that the company and its agents sold unregistered securities through unlicensed representatives in violation of state law. The regulators further assert that investors were not properly informed of the risks associated with the investments.
In a parallel action, the Kansas Insurance Department filed for a temporary restraining order and asset freeze against Premier Global and its affiliates in November 2022. According to the filing, the investment offerings were “fraudulent in nature,” and the company’s claims of underlying collateral and guarantees were “materially misleading or false.”
Both agencies continue to coordinate on efforts to recover funds for defrauded investors.
FINRA Bars Gradient Securities Broker
In a related development, the Financial Industry Regulatory Authority (FINRA) permanently barred Nicholas Stovall (CRD #5581487,) a former broker with Gradient Securities, after he failed to cooperate with an investigation into his alleged involvement in selling Premier Global promissory notes without approval from his firm. According to FINRA’s Letter of Acceptance, Waiver, and Consent (AWC), Stovall declined to provide testimony related to his alleged participation in private securities transactions, a violation of FINRA Rule 8210.
The AWC, dated August 2023, states that Stovall’s failure to cooperate resulted in an automatic bar from associating with any FINRA member firm in any capacity.
Premier Global Corp Investment Losses – What Investors Should Know
If you invested in promissory notes or transferee agreements issued by Premier Global Corporation, you may be entitled to recovery of investment losses through FINRA arbitration. While Premier Global itself may ultimately be unable to repay investors, third-party claims—such as those against brokerage firms or registered representatives who recommended the investments—may be viable.
Investors are encouraged to review any account statements or offering documents they received and consult a securities attorney to evaluate potential claims.
Free Consultation with a Securities Attorney
The White Law Group has recovered millions of dollars on behalf of investors in cases involving Ponzi schemes and fraudulent investment offerings. If you are concerned about your investment losses in Premier Global Corporation, please call the firm at 888-637-5510 for a free consultation.
With offices in Seattle and Chicago, The White Law Group handles securities fraud cases in all 50 states.
FAQs: Premier Global Corp Lawsuit and Investment Losses
1. What is the Premier Global Corp lawsuit about?
State securities regulators in Oklahoma and Kansas have filed enforcement actions against Premier Global Corp, alleging the company operated a Ponzi-like scheme involving unregistered promissory notes. The lawsuit claims that investor funds were misused and that securities were sold by unlicensed agents in violation of state laws.
2. How do I know if my Premier Global investment is affected?
If you invested in promissory notes or “transferee agreements” offered by Premier Global Corporation or through representatives such as Nicholas Stovall, you may be impacted. Investors should check offering documents, account statements, and speak with a securities attorney to determine whether they may have a claim to recover losses.
3. Can I recover investment losses from Premier Global Corp?
While recovery directly from Premier Global may be limited due to insolvency or legal restrictions, investors may have potential claims against the brokerage firms or financial professionals who recommended the investment. These claims can often be pursued through FINRA arbitration.
