Originally Syndicated on February 22, 2024 @ 5:46 am

The Arizona Corporation Commission has mandated that Pam Hopman and her company, PGH Advisors, handle bills resulting from dishonest actions. Along with a $35,000 fine, this entails making reparations of $410,790. Furthermore, PGH Advisors, LLC’s investment adviser license and Pam Hopman’s license as an investment adviser representative have both been canceled by the Commission.

Severe misbehavior by Pam Hopman and PGH Advisors LLC was found during the Commission’s inquiry. It was discovered that under the pretense of life settlement products, they had pushed stocks from Deeproot and its affiliated companies to its consumers, worth at least $1,562,392. Previous charges of Deeproot functioning as a Ponzi scheme came from the Securities and Exchange Commission.

Moreover, Hopman, PGH Advisors, LLC, and another representative were found to have sold PGH advising clients unregistered securities from Premier Global Corporation for a minimum of $10,040,526. A 12-month unsecured promissory note with interest payable to the investors was offered to them. Similar concerns had been voiced over Premier Global Corporation by the Oklahoma Department of Securities.

There was a flagrant absence of transparency in numerous cases. When it came to commissions for advertising these unregistered investment products, Pam Hopman and PGH Advisors, LLC neglected to disclose this information to investors.

The profound conflict of interest that these sales commissions produced was also brought to light by the Commission. The conflict in question undermined Hopman’s ability to provide objective financial advice by putting the interests of his clients at odds with his desire for fees.

The parties to this agreement have accepted the Commission’s conclusions and given their assent for a consent order including the specified fines and penalties to settle this dispute.

Pam Hopman: who is she? 

Three separate companies—The Hopman Group LLC, PGH Advisors LLC, and Hopman Tax Services—are founded and presided over by Pam Hopman. These include, in that order, an insurance company, a registered investment advisor company, and a tax preparation company. Because of her deep knowledge of investments, insurance, and taxes, Pam Hopman can customize her solutions and make sure they properly fit the specific financial objectives and aspirations of each of her clients.

About The Hopman Group: 

The Better Business Bureau has not granted accreditation to The Hopman Group. You may read their reviews, complaints, and BBB ratings.

PGH Advisors LLC is a state-supervised registered financial advising firm dedicated to upholding its fiduciary duty of putting its clients’ best interests first. With the confidence and happiness of a large number of clients, the company has honed its skills in meeting the financial needs of people at every stage of life, regardless of gender. 

N4T investors’ losses from Ponzi schemes are the fault of a Tucson financial advisor: 

Cindy Bryant, who had saved hard for retirement over the years, discovered that she could lose everything with a single signature. Her investment with Deeproot Funds, which is presently being sued by the SEC for purportedly functioning as a Ponzi scheme, cost her $95,000.

Bryant finds it difficult to sleep at night since he is so devastated by the loss. Robert Mueller, the main member of Deeproot, is accused by the SEC of misusing investor monies for personal purposes and effectively using the company as his bank.

Despite the serious accusations, Deeproot and Mueller are not prosecuted. But now that Deeproot has declared bankruptcy, investors like Bryant have little chance of getting their money back.

Bryant gave her money to PGH Advisors’ financial advisor Pamela Hopman and the Hopman Group, who invested in Deeproot in 2019 on Bryant’s behalf. Bryant believes Hopman ought to have looked into the investment with greater rigor. She hasn’t filed a complaint against Hopman yet, but Hopman’s legal team sent her a letter indicating that it might not be effective to sue Hopman because Hopman had damages from Deeproot as well.

Because of their connection in Deeproot, Hopman and PGH Advisors are the target of numerous lawsuits. A Tucson family, represented by attorneys Gail Boliver and Anthony Bingham, alleges that a financial advisor working under Hopman’s supervision persuaded them to invest $100,000 in Deeproot. They contend that financial counselors have a fiduciary duty to investigate investments thoroughly, which doesn’t seem to have happened in this case.

Deeproot’s investment in life insurance viaticals was a hazardous one, as the SEC lawsuit disclosed that the company had not bought a policy since September 2017 despite still collecting millions. According to legal experts, these were warning indicators that any responsible financial professional should have seen.

Representing several customers who made investments in Deeproot, attorney Marc Fitapelli claims that Hopman breached her fiduciary duties to them and that there were obvious signs of problems.

Cindy Bryant is now concentrating on using perseverance and hard effort to replenish her retirement funds.

Former Financial Advisor Pam Hopman Attempts to Mend Reputation Despite Scandal Involvement:

Pam Hopman, a reputable investment advisor in the volatile world of finance, is currently involved in a scandal that has permanently tarnished her reputation. Hopman is now known as the person who betrayed and deceived her customers, having been accused of participating in a fraud that cost them more than $10 million. Shockwaves are sweeping through the industry as details of her deceptive tactics come to light, bringing ethical and trust concerns in financial partnerships to light. Hopman is currently waging a losing battle that will determine her future as she tries valiantly to restore her damaged reputation. 

Background and Commission Results:

Pam Hopman and her business, PGH Advisors LLC, were the subject of a comprehensive investigation by the Arizona Corporation Commission, which led to harsh penalties. This acts as a strong denunciation of Hopman’s unscrupulous actions concerning the unregistered securities sales. The substantial fines and reparations, which come to over half a million dollars, highlight the extent of her wrongdoing.

In addition, as a direct result of her dishonest actions, the incident resulted in the cancellation of both Hopman’s company’s license and her license as an investment adviser representative, thereby ending her ability to legally take advantage of gullible investors. 

The Deceitful Plans: 

Hopman and PGH Advisors played a significant role in promoting securities from Deeproot and its connected businesses. Serious doubts have been expressed regarding Hopman’s judgment and her willingness to risk her clients’ investments in light of the Securities and Exchange Commission’s accusations that Deeproot functioned as a Ponzi scheme.

Subsequent examinations showed that Hopman had sold Premier Global Corp. unsecured and unregistered promissory notes for at least $10 million. An concerning sign of Hopman’s deception’s scope is that this company is presently embroiled in legal disputes, having been accused of masterminding a Ponzi scheme that defrauded over 500 investors in 19 states. 

The Fallout and Attempts to Manage Reputation:

The likelihood of retrieving investors’ lost money seems bleak as the scandal carries on. The head of the ACC’s Securities Division, Mark Dinell, recognized the difficulties in reclaiming money involved in the federal and state litigation concerning Deeproot and Premier Global.

Despite the growing body of evidence around her, Pam Hopman has launched a determined effort to control her reputation. Through claims from her lawyer, she even sells her property to help pay the fines and reparations that have been ordered, painting herself as just another victim. These are but a handful of her initiatives; she is actively pushing constructive information on the internet in an effort to put her past behind her and restore her reputation.

Her life has been profoundly impacted by the scandal, and the road to repairing her public image is narrow and dangerous. Hopman’s narrative serves as a sobering reminder of the difficulties in managing one’s image and the long-lasting effects of dishonest behavior, even though the efficacy of her reputation management techniques is still up for debate.

Conclusion

A thorough investigation by the Arizona Corporation Commission against Pam Hopman and PGH Advisors LLC turned up several serious infractions and unethical behavior. It was discovered that Pam Hopman and her company had sold unregistered securities from businesses suspected of running Ponzi schemes, causing their clients to suffer significant financial losses.

As a result, the Commission has canceled licenses and imposed heavy fines. With the controversy raising questions about ethics and confidence in the financial sector, Hopman now has the difficult challenge of restoring her damaged reputation.