By Caleb Drickey (September 27, 2021, 6:48 p.m. EDT) – The United States Securities and Exchange Commission has alleged that a securities dealer operating out of his suburban Minnesota home collected millions in brokerage fees and penny stock issues without ever registering as a broker.
In a complaint filed Friday, the SEC accused Chip Rice and his home-based brokerage firm Carebourn Capital of converting cash investments in ailing healthcare, environmental tech and cannabis industry companies into huge stock offers that bypassed regulators’ eyes, raising nearly $ 26 million in gross sales and pocketing nearly $ 14 million in profits.
“By violating the brokerage registration requirements of federal securities laws, …
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