Customers of Ronald J. Roach (“Roach”), formerly of Securities America, may be able to recover investment losses if Roach solicited their investments in a company known as DC Solar or otherwise provided unsuitable investment advice.
The Securities and Exchange Commission (SEC) has barred Roach for his role in promoting DC Solar, which this SEC alleges operated as a Ponzi scheme that defrauded investors of about $1 billion. The SEC bar order is accessible here. roach barred
In October, Mr. Roach also reportedly pleaded guilty to fraud and securities violations stemming from the sale and leaseback of mobile solar electrical generators. Roach awaits sentencing and reportedly facts as much as 10 years in prison.