Financial Talker Faces Fraud Charges In Virginia
March 24, 2016 at 4:18 AM (PT)
The co-host of a financial radio show is being accused by an agency of the Commonwealth of VIRGINIA of defrauding investors.
The VIRGINIAN-PILOT reports that DARYL GENE BANK of PORT ST. LUCIE, FL-based DOMINION INVESTMENT GROUP LLC is a co-defendant in a suit by the State Corporation Commission that alleges he sold investments totaling at least $21 million in four years that were fraudulent. BANK, whose radio show "DARYL AND THE BULL" airs on several stations in nationwide syndication, and RAEANN GIBSON are accused of taking money from, mostly, retirees and telling the investors that they were getting a piece of various companies but instead put the money in IRAs and pocketed 20-40% of the money in fees.
BANK was barred by the Financial Industry Regulatory Authority from being a broker in 2010 but started DOMINION after that; he also faces a civil suit from the SEC filed a year ago involving his companies' activities buying and selling cellular licenses.