INDIANAPOLIS– Secretary of State Diego Morales and the Indiana Securities Division announced that Warner Walls of Indianapolis has been charged with seven felonies, including two counts of Unlawful Sale of Securities, one count of Unregistered Broker Dealer, one count of Unregistered Securities Agent, and three counts of Securities Fraud. All the charges are Level 5 Felonies except the Securities Fraud counts, which are elevated to Level 4 Felonies due to the alleged scheme being employed against a victim over the age of sixty.
Related charges were also filed against Sherry Jordan, who was the Chief Financial Officer for Abundant Holdings, LLC. The charges include two counts of Unlawful Sale of Securities, one count of Unregistered Broker-Dealer, and one count of Unregistered Securities Agent, all as Level 5 Felonies. Jordan is alleged to have had an active role in the scheme by communicating directly with the investor about the returns anticipated and further encouraging her to invest with Abundant Holdings. Jordan also executed the promissory agreements with the investor.
An Indiana investor reported to the Securities and Exchange Commission that she had invested $95,000 in a company called Abundant Holdings, LLC, owned by Warner Walls. That complaint was forwarded to the Indiana Securities Division for investigation. The investigation revealed that Warner Walls and Sherry Jordan convinced the investor that the investment was lucrative and that it would be life-changing and guaranteed. The investment was said to be in aluminum alloy, coal, and LNG gas. Walls and Jordan were not registered to sell securities.
“Proper registration of investment brokers and securities offerings affords investors the necessary information to make informed investment decisions. Registration of offerings is necessary to prevent deceit, misrepresentations, and other fraud in the sale of securities. The Securities Division will continue to hold individuals accountable for failure to register and protect Hoosier investors,” said Diego Morales, Indiana Secretary of State.
Individuals who may have invested with Warner Walls, Sherry Jordan, or Abundant Holdings, LLC, are encouraged to contact the Indiana Securities Division at (317) 232-6681 or online at www.securities.sos.in.gov.
Walls and Jordan are presumed innocent at this stage of the proceedings. The charges were filed by the Marion County Prosecutor’s Office.
