SEC
Whistleblower
Advocates

October 19, 2015

Michael Donnelly

Offering Fraud

SANCTION AMOUNT: $2,355,723

Defendants: Michael Donnelly

$1.99 million disgorgement plus prejudgment interest, against former president of Wilmington, Delaware-based Coastal Investment Advisors Inc. who took funds from elderly and unsophisticated investors and used it for personal expenses instead of investing it. False account statements, trade confirmations, and other untrue information used in concealment.

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