Advisor barred by the Securities and Exchange Commission (SEC) for Defrauding Federal Employees

On August 19, 2022 the the Securities and Exchange Commission (SEC) barred Jonathan Dax Cooke, a former broker accused of fraudulently persuading hundreds of current and former federal employees to liquidate their Thrift Savings Plan accounts in order to purchase variable annuities. The variable annuities charged significantly higher fees and provided Cooke with substantial commissions.

The final judgment (a) enjoins Cooke from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933, and from aiding and abetting violations of the broker-dealer books and records provisions of Section 17 of the Exchange Act; (b) bars Cooke from serving as an officer or director of certain publicly-held companies; and (c) orders Cooke to pay disgorgement of $396,409 and a civil penalty of $103,591.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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