Richard Clatfelter Has Been Permanently Barred by the SEC

Richard Clatfelter

Publicly available records provided by the Securities and Exchange Commission (SEC) on January 24, 2017 indicate that former Arizona-based Horter Investment Management adviser Richard Clatfelter has been permanently barred by the SEC. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Clatfelter (CRD# 5608862).

Richard Clatfelter has spent at least eight years in the securities industry and was most recently registered with Horter Investment Management in Mesa, Arizona. Previous registrations include Horter Investment Management in Chandler, Arizona and Redhawk Wealth Advisors in Chandler, Arizona. He is currently not registered with any state or firm.

According to his Investment Adviser Representative Summary, Richard Clatfelter has been the subject of a regulatory sanction and a civil action.

In December 2016 the Securities and Exchange Commission sanctioned him in connection to a civil action filed against him. He was permanently barred from association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or NRSRO in any capacity.

In January 2016 the Securities and Exchange Commission filed a complaint against Richard Clatfelter, in the US District Court for the District of Utah, in connection to allegations that through a company known as Marquis Properties, he and another individual “orchestrated a scheme to defraud unwitting investors by inducing them to invest in notes and investment contracts collateralized by real estate.” According to the SEC, “Marquis represented that it would use investor funds to purchase real properties and that investors would receive guaranteed profits and return of principal upon sale of the properties.” It allegedly further represented that “investments were safe and low risk because the notes and investment contracts were 100% collateralized by valuable real property,” but “failed to purchase properties with investor funds, however, and properties offered as collateral were often not owned by Marquis, were substantially encumbered, or were in uninhabitable or blighted condition.” Marquis allegedly “used investor funds to pay returns to earlier investors, in a classic Ponzi scheme” in addition to using investor funds for personal expenses, at the direction of the other individual. Mr. Clatfelter was issued an injunction.

If you or someone you know has lost money investing with Richard Clatfelter, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.