Former Advisor Fights to Restore Name After Fraud Allegations

David Anthony, a former investment advisor, is making efforts to clear his name after being barred for a decade from selling investments due to allegations of orchestrating an eight-figure fraud. Accused by the Colorado Division of Securities of raising $26.5 million from investors for life insurance settlements while misappropriating funds, Anthony vehemently denies the charges and claims the investigation was flawed.

Following a protracted legal battle, Anthony agreed to a settlement that prevents him from working in Colorado but attempted to clarify his ability to work in other states. However, he learned that this settlement would negatively impact his chances of obtaining a license in Utah, effectively hindering his career options across the board. Anthony is now suing his former attorneys for malpractice, alleging they misled him about the settlement’s implications, while the state's securities commissioner maintains that the allegations against him remain valid and that efforts are being made to pay back investors.