BUREAU ALLEGES SECURITIES FRAUD BY DANIEL OLIVIER OF LANCASTER NH

CONCORD, NH (December 17, 2019) The New Hampshire Bureau of Securities Regulation announces that on December 13, 2019 it filed a Petition and Order to Cease and Desist against Daniel Olivier of Lancaster, New Hampshire.

In its action, the Bureau alleges that between November 2017 and April 2018, Olivier took investment money in the amount of twenty-four thousand nine-hundred dollars ($24,900) from an investor from Lancaster, NH and promised to invest it in online securities day trading. Olivier had established trust with this investor based on a shared affinity in their religious beliefs, and the two formed a friendship based on their shared faith. The agreement between Olivier and the Investor was based on the false representations of Olivier that the investor’s money would be invested and that Olivier would make money trading securities that he would then pay to his investor. The complaint alleges that Olivier was not making money and all of the investor’s money was lost either through the securities trading or through unauthorized debit withdrawals for the purchase of items of a personal nature for Olivier. The complaint also alleges that Olivier misrepresented to his investor the success of his investing, leading his investor to continue adding to his investment money. The complaint alleges that this behavior is illegal because it is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly: (1) To employ any device, scheme, or artifice to defraud; (2) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or (3) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. It is alleged that Olivier violated this section by misrepresenting and omitting material facts to his investor, by employing a scheme to defraud, and by engaging in an act or practice that operate as a fraud or deceit upon his investor.

A copy of the Petition For Relief and Order can be viewed on the Bureau's website at nh.gov/securities.

Fraud of this nature is known as “affinity fraud”, which refers to investment scams against people of identifiable groups, such as individuals who share religious beliefs, age, or ethnicity.  Because this type of fraud happens among individuals who believe themselves to be friends, it can be difficult for authorities to detect.  

New Hampshire residents, particularly those living in the Lancaster area, who have any information or who believe they were solicited by Olivier to invest in this alleged scheme should contact the New Hampshire Bureau of Securities Regulation by calling 603-271-1463 or via email at securities@sos.nh.gov.