Former LPL Advisor Lisa Boisselle Ordered to Pay $1.4 Million Over Crypto Fund Sales
Arizona regulators have escalated enforcement actions against former LPL Financial advisor Lisa Boisselle, ordering her to pay $1.4 million in restitution to defrauded investors and $75,000 in civil penalties over alleged sales of fraudulent cryptocurrency investment programs.
The order follows a prior Arizona cease-and-desist action accusing Boisselle and her firm, Wealthwise, of illegally selling unregistered crypto-related investments to retail clients.
Allegations Against Former LPL Broker Lisa Boisselle
According to the Arizona Securities Division, Boisselle solicited approximately $1.4 million from at least 16 investorsbetween November 2021 and April 2023 for investments in two cryptocurrency-related programs:
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NovaTech
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HyperFund, also known as HyperVerse
Regulators allege Boisselle sold these investments without proper registration, violated state securities laws, and acted through Wealthwise, which is no longer registered as an investment advisory firm.
Boisselle was registered with LPL Financial in Scottsdale, Arizona, from 2018 through 2022, according to FINRA BrokerCheck records. Despite no longer being licensed in Arizona, regulators say she continued soliciting investors for new crypto-related opportunities.
Failure to Respond to Regulators
Arizona regulators noted that Boisselle failed to request a hearing or file an answer in response to the enforcement action. As a result, the state issued a final order requiring restitution and penalties.
According to the Arizona Corporation Commission, Boisselle served as president, owner, and chief compliance officer of Wealthwise at the time of the alleged misconduct.
Alleged Misrepresentations to Investors
Regulators allege Boisselle told some investors that their money was:
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“Safe and secure”
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Accessible for withdrawal at any time
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Expected to grow steadily over time
However, the Securities Division claims that by August 2022, domestic and foreign regulators had already issued warnings and initiated legal actions involving NovaTech. Boisselle allegedly failed to disclose these developments to investors she continued to solicit.
SEC Actions Against NovaTech and HyperFund
Both crypto programs at the center of the Arizona case have already been the subject of federal enforcement actions:
HyperFund / HyperVerse
In January 2024, the SEC charged promoters Xue “Sam” Lee and Brenda “Bitcoin Beautee” Chunga with operating a fraudulent crypto pyramid scheme that raised more than $1.7 billion worldwide.
The SEC alleges investors were misled with promises of guaranteed returns from crypto mining operations and supposed partnerships with a Fortune 500 company.
NovaTech Ltd.
In December 2024, the SEC charged Cynthia and Eddy Petion and NovaTech Ltd. with running a fraudulent multi-level marketing crypto scheme that raised more than $650 million from over 200,000 investors globally.
According to the SEC, NovaTech operated from 2019 through 2023, falsely claiming investor funds were being traded in crypto and foreign exchange markets.
Arizona regulators have now directly linked Lisa Boisselle to the sale of both programs.
What This Means for LPL Financial Customers and Retail Investors
Broker-dealers like LPL Financial have a legal duty to reasonably supervise their registered representatives. When firms fail to detect or stop the sale of unsuitable or unregistered products, they may be held liable for investor losses through FINRA arbitration, even if the advisor later leaves the firm.
Importantly, state restitution orders do not guarantee investors will recover their losses, making civil claims and arbitration a critical option for affected customers.
Recovering Losses from Crypto Investments
The White Law Group is investigating potential claims involving former LPL advisor Lisa Boisselle, Wealthwise, and the sale of NovaTech and HyperFund.
Our securities fraud attorneys represent investors nationwide in FINRA arbitration claims, helping clients pursue recovery for losses caused by broker misconduct, unsuitable recommendations, and supervisory failures.
Free Consultation for Affected Investors
If you invested with Lisa Boisselle, Wealthwise, or through LPL Financial in NovaTech, HyperFund/HyperVerse, or other crypto-related products, you may have legal options.
Call The White Law Group at (888) 637-5510 for a free, confidential consultation.
FAQs
Who is Lisa Boisselle?
Lisa Boisselle is a former financial advisor who was registered with LPL Financial in Scottsdale, Arizona, from 2018 to 2022. Arizona regulators have ordered her to pay $1.4 million in restitution over alleged crypto fund sales.
What is HyperFund (HyperVerse)?
HyperFund, also known as HyperVerse, was an alleged $1.7 billion global crypto pyramid scheme. The SEC charged its promoters with securities fraud in January 2024.
What is NovaTech?
NovaTech Ltd. was promoted as a crypto trading and multi-level marketing investment program. The SEC alleges it defrauded more than 200,000 investors out of over $650 million.
Can I recover losses from crypto investments sold by my advisor?
Possibly. Investors may be able to recover losses through FINRA arbitration if a brokerage firm failed to supervise its advisor or allowed unsuitable or unregistered investments to be sold.
