Federal prosecutors also charged Mata with concealing assets from the U.S. Bankruptcy Court, including a residence in Upland and a 2008 Mini Cooper, by transferring them to family members—the Mini Cooper went to his daughter and the house in Upland went to his wife. A 2001 Jeep was also transferred, said prosecutors.
According to the indictment, Mata had run into trouble with other authorities and regulatory bodies in the past: In 2010, it said, the Nevada Secretary of State obtained a cease and desist order against him for soliciting investments in unregistered securities. The Financial Industry Regulatory Authority slapped a $10,000 fine on Mata and suspended him for a year in 2011 for his activities at Ameriprise, including his failure to notify the firm of his participation in private securities transactions and outside business activities. The CFP Board took away his certification mark for three years in 2012 for exaggerated investment performance claims in his sales literature. In 2014, the California Department of Business Oversight suspended Mata from any position of employment or control of an investment advisor or broker-dealer for five months.
“Mata failed to disclose his disciplinary history to his victims,” said the U.S. Attorney’s Office.