The Summary Order charges Financial Warfare, Inc., Teresa Y. Hodge and Marcus D. Dukes with soliciting investments through meetings at African-American churches and through the internet. According to the Summary Order, Financial Warfare solicits church members with the stated purpose of building capital for the community through investments in companies that it has formed. The company holds meetings at the Victorious Church of Jesus Christ in Camp Springs, Maryland, and other churches around the country, and also promotes its investment program through a web site. Each membership level offers enrollment in one or more financial literacy courses, newsletters, reports and participation in future mutual fund products. Inc. According to Order, Financial Warfare has never offered the financial literacy courses that it promises although it informs investors that they must take the course before they can receive the distribution of shares in the infrastructure companies.
Investors have yet to receive any shares.
Curran s Securities Division alleges that Financial Warfare has violated Maryland s securities laws by offering and selling unregistered investments, by acting as an unregistered securities broker and investment adviser, and by failing to disclose material information. Curran reminded investors to call the Securities Division before they invest to find out whether their investment adviser, broker and securities are registered. Even when an investment program looks reasonable, and friends and family trust the promoter, it s better to take a few minutes to verify the status of the promoters.