Man arrested for alleged securities law violations in Lee and Montgomery counties

Man arrested for alleged securities law violations in Lee and Montgomery counties
(Source: Gray News)

LEE COUNTY, Ala. (WTVM) - A man was arrested Friday, August 9 for alleged securities law violations in Lee and Montgomery counties.

Jesse Morgan Hinson, of Troy, Alabama, was indicted and charged with one count of sale of unregistered securities and sale of securities by an unregistered agent. Both charges are Class C felonies. The indictment also charges Hinson with two counts of fraud in connection with the sale of securities. The fraud charges are Class B felonies.

According to the Alabama Securities Commission (ASC), the indictments claim Hinson represented to Alabama investors that he was the heir to a multi-billion-dollar fortune and promoted investment opportunities related to the buying and selling of real estate.

Hinson allegedly solicited investments in land deals and represented to investors that the investments would return a profit in a short period of time. The indictments also allege that the investment funds were not used in accordance with representations made by Hinson.

Hinson was not registered with ASC as an Alabama dealer or agent of securities and the securities he offered and sold were not register with ASC.

Hinson was transported to the Lee County Sheriff’s Office and made bond in both cases. The Class C felonies are punishable by 10 years’ imprisonment and a $15,000 fine per charge. The Class C felonies carry a punishment of 2 to 20 years’ incarceration and a $30,000 fine if convicted.

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