Sec. of State Wes Allen and Alabama Securities Commission warn businesses of fraudulent mailers
On Tuesday, the Alabama Securities Commission (ASC) and Alabama Secretary of State Wes Allen issued a warning to business owners about a fraudulent mailer. This mailer is official-looking and claims to be from the Secretary of State’s office. The mailer falsely claims that the business needs to pay $90 dollars, or more, for a copy of a Uniform Commercial Code (UCC) statement filed against them. Amanda Senn is the Director of the Alabama Securities Commission. “Alabama business owners should toss mailers from third-party companies that say they will work with the SOS office on your behalf in the trash,” said ASC Director Senn. Secretary of State Allen said, “These organizations are not affiliated with or authorized by the SOS office in any way. They are charging excessive amounts for something you likely will never need and, if you do, can easily acquire.” UCC filings reflect liens placed on certain personal property, such as equipment, accounts receivable, etc. that generally cannot be titled or deeded, like automobiles, aircraft, boats, and real estate. The primary purpose of a UCC is to perfect the secured interest of the secured party in personal property collateral. The UCC financing statement is a form that a creditor files to give notice that it has an interest in the personal property of a debtor. A bank, not an entrepreneur, typically files the statement. Filing a UCC statement costs $20 for the first two pages and two dollars for every page thereafter. Individuals looking to file the statement can go directly to the SOS website. The ASC cautions investors to research any investment opportunity thoroughly. Call the ASC at 1-800-222-1253 to report suspected fraud, inappropriate securities business practices, or to obtain consumer information. Free investor education and fraud prevention materials are available at www.asc.alabama.gov. To connect with the author of this story or to comment, email brandonmreporter@gmail.com.
Personnel note: Alabama Securities Commission appoints Acting Deputy Director, announces new Chief Litigation Counsel
Alabama Securities Commission (ASC) has announced Amanda Senn, General Counsel has been appointed to Acting Deputy Director for Enforcement and that Gregory Bordenkircher has joined the ASC as Chief Litigation Counsel. Joseph Borg, Director of the ASC made the announcement on Friday. “The promotion of Ms. Senn and the addition to our staff of Mr. Bordenkircher will ensure that the ASC provides the highest caliber of professionalism in our continuing mission to protect the citizens of Alabama,” said Borg. “Acting Deputy Director and General Counsel Senn and Chief Litigation Counsel Bordenkircher both have proven track records in the field of law.” Attorney Senn joined the ASC in 2009 and has served in several capacities with the commission. For the past three years she has served as General Counsel of the ASC, where she is responsible for advising the Commission on securities-related matters, and investigating and prosecuting illegal and fraudulent actions surrounding the sales of securities throughout the state of Alabama. Senn has played a critical role in coordinating and litigating numerous multi-jurisdictional administrative, civil, and criminal actions and is actively involved in the North American Securities Administrators Association (NASAA) and serves as Chairman of the Cybersecurity and Technology Project Group. As Acting Deputy Director, Senn will assist Borg with additional administrative responsibilities in the overall operation of the Commission and supervise the enforcement functions of the Commission. She will continue the role of General Counsel. Senn replaces Stephen Feaga, the previous Deputy Director for Enforcement and Prosecution since February 2012. He left the ASC d is now a partner at Balch and Bingham LLP, a regional law firm, and specializes in White Collar Compliance, Investigations, and Litigation. Bordenkircher joins the ASC as Chief Litigation Counsel where he will be responsible for supervising the investigation and prosecution of securities violations in Alabama. He comes to the ASC from the U.S. Department of Justice (DOJ), where he served as Assistant U.S. Attorney for the Southern District of Alabama from August 1991 until he retired on December 31, 2017. During that time, Bordenkircher worked extensively with the F.B.I., D.E.A, U.S. Secret Service, I.R.S., I.C.E., A.T.F. and state and local authorities in investigating and prosecuting large, complex criminal matters. He has experience in coordinating multi- jurisdictional and multi-agency investigations, including large-scale drug conspiracies and complex white collar public corruption and fraud cases. During his tenure with the U.S. Attorney’s Office, Bordenkircher served as Chief of Complex Litigation Unit and Senior Litigation Counsel, where he supervised and litigated hundreds of federal jury trials which included public corruption cases, complex white-collar cases, large drug conspiracy cases, firearm violations cases and violent crimes cases. In addition, he represented the government in digital evidence challenges in search warrants, suppression hearings, pretrial motions and delivered digital evidence presentations in numerous trials involving white collar fraud, medical fraud, counter espionage, undercover cyber investigations and other federal crimes involving computer and cellular evidence. Additionally, he served the U.S in Iraq as an Assistant U.S. Attorney to the Regime Crimes Liaison’s Office in Iraq, where he was the lead American advisor to the Iraqi prosecution team on the Genocide and War Crimes trial of Saddam Hussein and Ali Hasson al Majid (Chemical Ali).
