U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23196 / February 12, 2015
Securities and Exchange Commission v. Roger S. Bliss and Roger S. Bliss d/b/a Roger Bliss and Associates Equities, LLC, Roger Bliss and Associates Club LLC and/or Bliss Club LLC, Civil Action No. 2:15cv00098
SEC Obtains Asset Freeze and Other Relief in Ongoing Offering Fraud
On February 11, 2015, the Securities and Exchange Commission obtained a temporary restraining order and an emergency asset freeze in an offering fraud orchestrated by Roger S. Bliss through his entities, Roger Bliss and Associates Equities, LLC, Roger Bliss and Associates Club LLC, and/or Bliss Club LLC. The SEC's complaint alleges that Bliss, who claims to operate an investment club in which members contribute funds for Bliss to day-trade stock for profit, represents to investors that he has an excellent trading record and has never had a trading day where he has lost money in the last six years. The complaint also alleges that, Bliss tells investors that he trades over $300 million in assets and that investors can expect at least a 100% profit per year. Contrary to Bliss' representations, Bliss' trading has not been profitable. Bliss' brokerage account shows that from January 1, 2012 through January 12, 2015, Bliss incurred total losses of $3,299,689. On December 31, 2014, Bliss' brokerage account held just $32,362.84.
The Commission's complaint charges Bliss and his entities with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder, and seeks permanent injunctions, disgorgement with prejudgment interest, and civil money penalties from Bliss and Bliss' entities.
The SEC's investigation was conducted by Paul N. Feindt, Cheryl M. Mori and Scott Frost; the litigation will be led by Amy J. Oliver.