BALTIMORE, MD (October 25, 2022) – Maryland Attorney General Brian E. Frosh announced today that his Securities Division has issued a Summary Order to Cease and Desist and Order to Show Cause against Hunter Allen Haithcock, aka Hunter Elliott. The Division alleges that Haithcock, operating from Cecil County, solicited funds from investors under the false pretenses that he was depositing their funds into a TD Ameritrade account and purchasing stocks and options for their accounts. The Division further alleges that Haithcock is violating Maryland securities laws by acting as an unregistered investment adviser and broker-dealer and engaging in fraud in connection with his unregistered securities and investment advisory activities.
“The Securities Division took this action to protect Maryland investors against further losses from the fraudulent and illegal actions made by an unlicensed investment adviser,” said Attorney General Frosh.
The Securities Division is seeking sanctions against Haithcock, including fines and a permanent bar from the securities and investment advisory business in Maryland.
According to the Order, while holding himself out as a TD Ameritrade broker and investment adviser, Haithcock induced investors into turning over their funds by providing them with fake TD Ameritrade account agreements that included a statement guaranteeing their principal investment against loss. Haithcock also provided investors with account statements that purportedly showed their accounts significantly appreciating in value. In reality, the order alleges, Haithcock never deposited investors’ funds into a TD Ameritrade account or purchased securities on their behalf, but instead used investors’ funds for his personal benefit.
The Attorney General encourages anyone who invested monies with Hunter Haithcock to contact the Securities Division at 410-576-6882 or by email at securities@oag.state.md.us. Investors are strongly encouraged to check with the Securities Division before they invest or entrust their monies to a financial adviser to verify that the product and individual are appropriately registered, and to inquire about the adviser's disciplinary history.
“The Securities Division took this action to protect Maryland investors against further losses from the fraudulent and illegal actions made by an unlicensed investment adviser,” said Attorney General Frosh.
The Securities Division is seeking sanctions against Haithcock, including fines and a permanent bar from the securities and investment advisory business in Maryland.
According to the Order, while holding himself out as a TD Ameritrade broker and investment adviser, Haithcock induced investors into turning over their funds by providing them with fake TD Ameritrade account agreements that included a statement guaranteeing their principal investment against loss. Haithcock also provided investors with account statements that purportedly showed their accounts significantly appreciating in value. In reality, the order alleges, Haithcock never deposited investors’ funds into a TD Ameritrade account or purchased securities on their behalf, but instead used investors’ funds for his personal benefit.
The Attorney General encourages anyone who invested monies with Hunter Haithcock to contact the Securities Division at 410-576-6882 or by email at securities@oag.state.md.us. Investors are strongly encouraged to check with the Securities Division before they invest or entrust their monies to a financial adviser to verify that the product and individual are appropriately registered, and to inquire about the adviser's disciplinary history.