Previously, Jordan was permitted to resign from the Securities Equity Group in 2010 after allegedly selling securities that were not authorized by his employer, according to BrokerCheck.
California regulators notified Jordan and his firm of their intent to seek an industry bar and revocation of licensure in March. Subsequently, William Jordan Investments and more than two dozen affiliated funds filed for bankruptcy on May 25, each claiming liabilities up to $10 million. As part of the bankruptcy, the firm and Jordan have discontinued creating new funds, raising money or making new investments, and are undergoing a controlled liquidation of debtors’ assets.
The California Department of Business Oversight said it has reserved the right to take further action to hold Jordan and his firm responsible for any harm caused to investors.