Colorado Securities Commissioner Fred Joseph filed a final cease and desist order against Irvine, Calif.-based green-energy investment firm Green Warrior, LLC.
Joseph believes the company is violating the securities registration and anti-fraud provisions of the Colorado Securities Act.
He said investors should be wary of new energy-efficient and green technology investments, and to contact his office to ensure that securities have been properly registered, especially after a cold call.
According to the Department of Regulatory Agencies Division of Securities press release:
The Colorado Division of Securities alleged that Colorado invstors were cold called by agents of Green Warrior to solicit the investor to invest in Green Warrior, a business that offers residential and commercial customers discounted solar and wind electricity systems in exchange for no money down.
Respondents failed to register the security offerings and, by offering the investment opportunity to the public at large through the use of cold calling prospective investors, Respondents violated the act.
In addition, the Staff alleged that Respondents violated the anti-fraud provisions of the act for failing to disclose to prospective investors that the securities that were offered were not exempt from registration, and failed to disclose the actual financial condition of Green Warrior, including its assets, liabilities, equity, revenue and expenses.