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Business ProfileforSimpson & Associates
Current Alerts For This Business
On September 17, 2021 in the United States District Court of the Northern District of Ohio, the United States Attorney General charged that James Simpson, a financial advisor, knowingly and willingly engaged in a transaction, practice or course of business which operated or would operate as a fraud or deceit on any client or prospective client in connection with investment advisory services totaling over $400,000 that involved the use of any means instrumentally of interstate commerce in in violation of Title 15, United States Code, Section 80b-6.
James Simpson admitted to defrauding clients out of more than $400,000 in an investment opportunity scheme. Simpson told his clients he had special investment opportunities dating back to 2020. At least eight of the clients wrote Simpson checks, but he did not invest the money. Instead, he used the money for his own benefit, prosecutors said.
On October 20, 2021 Mr. Simpson entered a Plea of Guilty as to a Felony Count 1 (Investment Adviser Fraud) and was referred to U.S. Pretrial Services and Probation for preparation of a Pre-sentence Investigation Report.
On February 9, 2022 in the United States District Court Northern District of Ohio, Judge James Knepp sentenced James Simpson to the custody of the United States Bureau of Prisons to be imprisoned for a total term on one year and one day. Mr. Simspon's report date to the Bureau of Prisons shall not occur before May 1, 2022. Mr. Simpson is ordered to pay the United States a special assessment of $100.00 and restitution of $467,047.08 which will be paid to the victims. Upon his release from imprisonment, Mr. Simpson will be placed on supervised release for one year.
At-a-glance
Business Details
- Location of This Business
- Toledo, OH 43606-1417
- BBB File Opened:
- 4/14/2011
- Business Started:
- 1/1/1970
- Business Incorporated:
- 8/19/1999
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Limited Liability Company (LLC)
- Number of Employees:
- 6
- Alternate Business Name
- AXA Advisors, LLC
- Contact Information
Principal
- Mr. James E. Simpson, CLU, ChFC / Owner
Customer Contact
- Mr. James E. Simpson, CLU, ChFC / Owner
- Mr. Scott D. Simpson, Associate
- Additional Contact Information
Phone Numbers
- (800) 542-3258Other Phone
- (800) 542-3258
Customer Complaints
0 Customer Complaints
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