We have been following the case involving Jerry Cicolani, Jr. and Kelly
Hood relating to the Ponzi scheme involving KGTA Petroleum. Last month, we
posted a blog regarding charges the SEC brought against Cicolani and Hood for their
involvement in the Ponzi scheme. Now, both respondents have submitted
an Offer of Settlement.
Hood, the sanctions include a bar from any association with a brokerage firm
or investment advisory firm. They had already previously both been barred
from the industry by the Financial Industry Regulatory Authority (FINRA)
for refusing to cooperate in an investigation by FINRA into the KGTA Ponzi scheme.
We have discussed the case in previous blogs:
If you invested and lost money with Jerry Cicolani or Kelly Hood, call
our securities fraud attorneys today to discuss. At Meyer Wilson, we offer
free case reviews in order to discuss the specific details of your situation. We’ll
take the time to listen to your case and explain if you have a valid claim.