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The Securities and Exchange Commission (SEC) has charged Raymond Thomas and his company, Strictly Stocks Investment Company, Inc, with fraudulently raising at least $620,000 from his friends and family through a stock market scheme. 

A retired police officer himself, Thomas allegedly targeted retired police officers and firefighters, convincing at least 26 of them to invest with him.  According to the SEC, Thomas acted as an unregistered broker-dealer, operating the scheme from 1997 to 2006. 

According to the complaint, Thomas,

preyed upon Cleveland area active and retired police officers and firefighters, as well as his friends and family. The complaint alleges that Thomas and Strictly Stocks told investors that their funds would be invested in stocks and options.

The complaint goes on to say that instead of investing the funds, Thomas misappropriated them to his personal use and the use of his own private business ventures.   

If Thomas was willing to take down his friends, family and co-workers, to make a buck, then aren’t you at risk as well?  I am not telling you to be wary of every person in your life; I’m just strongly encouraging you to investigate before you invest. Don’t be the next baby boomer or senior citizen to be defrauded. Investor’s Watchdog will give you a full detailed report and safety rating on the investment or the broker, so that you don’t lose your nest egg in a securities scam.