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Action Taken Against Suspect Investment Adviser

By Brian Hagen

04/11/2017

(MSC News)--A cease and desist order is issued against an investment adviser accused of operating illegally in the state of Kansas.

That word comes in a press release issued by the Office of the Securities Commissioner, regarding the action taken against Chad Walker Brooks.

According to court documents, Brooks, a one time resident of Missouri, is currently residing in Panama, but had been operating as an unregistered investment adviser in Kansas since 1998.

The statement from Kansas Securities Commissioner Josh Ney alleges that Brooks violated the Kansas Uniform Securities Act through his associations with companies identified as ABM Management, Inc. and AMCAP Premier, LP.

Along with the cease and desist order, Ney has issued a notice of intent to impose administrative actions in connection with the alleged crimes.

Although Brooks did not have offices in any local community, Director of Communications for the Office of the Securities Commissioner, Caley Love, tells MSC News in an email, "We are aware of business dealings with people in Atchison and Hiawatha. We are also looking into Leavenworth and Kansas City, but believe he could have clients from anywhere in Northeast Kansas and into Missouri as well."

Brooks, and ABM Management, have 30 days to request a hearing regarding the allegations.

Ney urges anyone who has had dealings with Brooks, or the companies, to contact his office at 785-296-3307 or by email.

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