Gallatin Company Ordered to Cease & Desist Illegal Sale of Securities
NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division has ordered Southern Energy Group, Inc. and its registered agent and president Robert Dorrance to cease and desist from making illegal sales of unregistered securities to investors. A copy of the order can be found here.
Southern Energy, which Dorrance operates at 1531 Hunt Club Boulevard, Suite 210 in Gallatin, has never registered as an issuer-dealer with the Tennessee Securities Division as required by state law. However, the company has made numerous sales to multiple investors throughout the United States while its principal place of business was located in Tennessee.
Additionally, the company failed to disclose that its securities were not registered with the Department and have continued to offer securities for sale through the Southern Energy website.
“Investors should always remember that it is unlawful for any person to transact business from or in this state as a broker-dealer, agent, investment advisor or investment advisor representative unless that person is properly registered as such,” said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. “These security laws are in place to protect the public and the investors in the state of Tennessee.”
For more information on securities, including how to register to sell securities in Tennessee, visit the TDCI website.
If you suspect that you might be a victim of securities or insurance fraud, or if you would like to file a complaint or speak with an investigator, please contact the Tennessee Securities Division – Financial
Services Investigations Unit at (615) 741-5900. To file a complaint online, visit https://tn.gov/commerce/article/securities-file-a-complaint.