Rather than clear his name with evidence he isn’t a serial scammer, Frank Calabro Jr. has agreed to stop committing securities fraud in North Carolina.Calabro Jr. popped up on the North Carolina Securities Division’s radar via his promotion of the USI-Tech Ponzi scheme.
Neither USI-Tech or Calabro Jr. are registered to offer securities in North Carolina (or anywhere in the US for that matter).
Conclusions reached in Calabro’s settlement include:
USI-Tech’s BTC Packages constituted a security
Frank Calabro Jr. violated North Carolina’s securities laws by offering unregistered securities across the state
Frank Calabro Jr. violated North Carolina’s securities laws by offering securities in North Carolina (registered…