Citing the case of an investment manager who falsely claimed he turned $600 into $6 million, the SEC warned consumers on Wednesday that those who make extraordinary boasts about their investment prowess are usually pitching a scam and should be avoided.

The warning is based in part on two cases in which the SEC issued administrative orders on Wednesday.

One case involved Michael G. Thomas of Oil City, Pa., who claimed in marketing materials that he turned a $600 investment into $6 million. In fact, he invested more than $600 and actually lost money on the investment, the SEC said in its complaint.

Thomas also claimed in marketing materials that he made 40 percent per year on a personal account and that he could get returns of nearly 50 percent over five years on investors accounts. He sent mass e-mails to 37,000 people soliciting investments for his firm, MGI investments, and sent follow-up information to 10 people who responded, the complaint said.

He said he was named one of the “Top 25 Rising Business Stars” by Fortune magazine when no such award exists, the SEC says.

Thomas agreed, without admitting guilt, to be barred from the financial business for five years and to pay a fine of $25,000.

The second case, also announced Wednesday, involved Todd M. Schoenberger of Lewes, Del., the owner of an unregistered investment advisory firm, LandColt GP LLC. Schoenberger has, according to the SEC, appeared on national TV networks such as CNBC and Fox, and on radio shows on WGMD in Delaware, Maryland and Virginia. He claims to have been quoted in national press outlets such as The Wall Street Journal, Money Magazine and Bloomberg.

According to the complaint, Schoenberger was previously registered with the SEC as an investment advisor representative and a broker, but has not been registered for several years.

Schoenberger claimed to have a financial degree from the University of Maryland, which he did not.

The touted claims to national publicity and a college degree were made “to bolster his credibility with investors, create around himself an aura of success, and entice investments in his scheme,” the SEC says.

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