Charles J. Cole, Torben M. Welch, Beacon Heart, LLC, Heart of Humanity, LLC, Avranoc, LLC, Defendants; The indigenous Nations’ Bank, Derek A. Thiess, Barry R. Taylor, Relief Defendants
No reply on file from Charles J. Cole, Torben M. Welch, Beacon Heart, LLC, Heart of Humanity, LLC, Avranoc, LLC, Defendants on this matter.
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"The SEC’s complaint, filed in the Southern District of New York, charges Cole with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; charges Welch with violating Sections 17(a)(1) and (3) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, as well as with aiding and abetting Cole’s violation of Section 17(a)(2) of the Securities Act; and charges Beacon Heart, Heart of Humanity, and Avranoc with violating Section 10(b) of the Exchange Act and Rule 10b-5(a) and (c) thereunder."
"Welch, et al. , No. 1:26-cv-4945 (S.D.N.Y. filed June 11, 2026) SEC Charges North Carolina Resident and Utah Attorney in Alleged Fraudulent Stock Scheme On June 11, 2026, the Securities and Exchange Commission filed charges against North Carolina resident Charles J."
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"According to the SEC’s complaint, Cole and Welch perpetrated a fraudulent scheme in which Cole falsely promised to invest $3.36 billion in Infinite Reality and, together with Welch, falsely told Infinite Reality that Cole and/or Avranoc controlled at least $55 billion in assets."