Maryland Securities Division Archives

Maryland joins in $10 million settlement with Robinhood for failing investors

Posted on January 31, 2024 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division has announced that it has joined a multistate settlement with Robinhood Financial LLC, which will pay up to $10.2 million in penalties for operational and technical failures that harmed Main Street investors. The settlement stems from an investigation regarding Robinhood’s failures concerning the retail market. The investigation was spearheaded by state […]

Attorney General Brown joins $22.5 million settlement with crypto asset platform Nexo

Posted on September 13, 2023 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division announced that it has joined a $22.5 million multistate settlement with Nexo Capital, Inc. In September 2022, Maryland filed an action against Nexo in connection with its Earn Interest Product (EIP) accounts. The Securities Division had alleged that the EIP accounts enabled customers to deposit crypto assets with Nexo. In exchange, […]

Attorney General Brown brings action against crypto interest account provider

Posted on September 8, 2023 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division announced that it has filed an action against various companies, known collectively as “Abra,” and against William John “Bill” Barhydt, the founder and CEO of Abra, ordering them to cease and desist violating Maryland law in connection with the offer and sale of investments in two interest-bearing crypto depository accounts: Abra […]

Attorney General Brown brings action against Coinbase

Posted on June 6, 2023 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division on Tuesday announced that it has filed an action against Coinbase Global, Inc. and Coinbase, Inc., ordering them to cease and desist violating Maryland law in connection with Coinbase’s cryptocurrency asset staking offerings. The Securities Division alleges that Coinbase offered and sold unregistered securities in a form that Coinbase calls “staking […]

Attorney General Frosh announces action against cryptocurrency provider Nexo Group

Posted on September 28, 2022 by Chris Montcalmo

BALTIMORE, MD—The Office of the Attorney General’s Securities Division this week announced that it has filed a Cease and Desist against a cryptocurrency interest account provider, Nexo Group and its co-founder Antoni Trenchev (collectively, “Nexo”), ordering them to cease and desist violating Maryland law in connection with the offer and sale of Nexo’s Earn Interest Product (EIP) accounts. The Securities […]

Securities Division bars Maryland cryptocurrency company, owners from operating in state

Posted on July 28, 2021 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Wednesday announced that the Securities Division has issued a Final Order against La Tanya Davis of Silver Spring, Andrea King-Chang of Owings Mills, and their company, Ether Investment and Trading Group, LLC (together EITG) for violations of the Maryland Securities Act in connection with their involvement in a fraudulent offering of unregistered […]

Governor Hogan, Attorney General Frosh announce $11.7 million to provide legal services to residents facing eviction, homelessness

Posted on October 8, 2020 by Chris Montcalmo

ANNAPOLIS, MD—Maryland Attorney General Brian E. Frosh and Governor Larry Hogan on Thursday announced that $11.7 million in general funds will be directed to the Maryland Legal Services Corporation to provide legal services to families facing eviction and other housing security issues. As many national and local studies establish, counsel in eviction cases often means the difference between families staying […]

Attorney General Frosh warns consumers to beware of coronavirus-related investment schemes

Posted on April 21, 2020 by Chris Montcalmo

BALTIMORE, MD—Amid the ongoing COVID-19 pandemic, Maryland Attorney General Brian E. Frosh warned consumers on Tuesday to be wary of an anticipated surge in fraudulent investment schemes. “In these extraordinary times the health and welfare of all must be our foremost concern, and that includes our financial health” said Attorney General Frosh. “Scammers will begin perpetrating schemes that require little […]

Tag: Maryland Securities Division