Frederick McDonald Jr., CEO of US Advisory Group Inc. Accused of Lying to Investors

Frederick McDonald Jr., CEO of US Advisory Group Inc. Accused of Lying to InvestorsFrederick McDonald Jr. (CRD#: 706872) is a registered investment advisor (RIA) and a previously registered securities broker.

Currently, Mr. McDonald Jr. is the President and Chief Executive Officer (CEO) of US Advisory Group, an investment advisory firm headquartered in Beverly, Massachusetts.

On April 17th, 2019, FINRA reported that the Massachusetts Securities Division brought investment fraud charges against this individual.

In a complaint filed against Frederick McDonald Jr. and US Advisory Group, Massachusetts Secretary of the Commonwealth William Galvin alleges that the broker-dealer lied to investors in raising $8 million for a failed medical marijuana investment project.

Investment Fraud Investigation: Frederick McDonald Jr. of US Advisory Group

According to the allegations from the Massachusetts Securities Division, US Advisory Group President and CEO Frederick McDonald Jr. made material misrepresentations and material omissions to investors in raising money for a medical marijuana business. In total, more than $8 million was taken in from approximately 100 investors. Among other things, regulators contend that Mr. McDonald:

Massachusetts regulators are seeking all appropriate remedies against Mr. McDonald, including payment of full restitution to investors, other monetary penalties, and a bar from the securities industry.

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