Texas Officials Stop ‘Fraudulent Real Estate Deal’ By Registered Sex Offender Barbara George – CBS Dallas / Fort Worth

NORTH TEXAS (CBSDFW.COM) – A North Texas woman is accused of hiding her past – including the fact that she is a registered sex offender – while promoting fraudulent real estate investments.

The Texas State Securities Board has filed an immediate cease and desist order against Barbara George, aka Barbara Troutman, of White Settlement to stop what they believe is a plan.

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The order accuses George, who was also charged with grave sexual assault on a child, of illegally promoting fraudulent fix-and-flip and long-term rental property investments that purport to generate generous returns – up to eight or ten percent more a short-term one.

However, George does not provide any key information to investors. For example, the order claims that it does not disclose material risks, such as risks related to the solvency of the issuer and factors that may affect its ability to meet its financial obligations. She is also charged with hiding her criminal record – including the circumstances surrounding her charge of serious sexual assault on a child under the age of 14.

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Also, according to the order, investors will not be notified that a Texas court has requested that George be detained in the county jail on two separate occasions.

“Today’s action shows the need for transparency,” said Joe Rotunda, director of the Texas Securities Board Enforcement. “The law requires promoters to truthfully disclose all known material information – and in this case information about the business reputation and background of the investment professional.”

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Rotunda encourages investors to conduct their due diligence and research before investing in any online securities offering.