Investigation: James Tao and Donna Chen

Stoltmann Law Offices is investigating James Tao and Donna Chen. Tao was a former registered broker with Sunbelt Securities. In December 2017, the Securities and Exchange Commission (SEC) brought a complaint against Tao, alleging that he committed fraud through a company that he owned, Presidio Venture Capital. His former partner, Donna Chen (also known as Donna Boyd), also had a complaint brought against her by the SEC. In January 2018, the SEC barred Tao from the industry. Allegedly, Tao and Chen raised $860,000 from investors to invest in their company, Presidio. The SEC alleged that Tao failed to disclose to investors that some of the companies that Presidio invested in had ties to Tao. Tao also used investor funds to increase his own stake in the company. Tao agreed to pay disgorgement of $155,000, interest of over $7,900 and a $150,000 penalty. Boyd agreed to pay $10,000. Tao was barred from the industry in 2016 by the Financial Industry Regulatory Authority (FINRA) after he allegedly failed to respond to an investigation against him.

Mr. Tao, according to his online FINRA BrokerCheck report, was previously registered with Electronic Trading Group in New York, New York from July 1999 until June 2001, Assent LLC in Geneva, Illinois from September 2004 until March 2006, Merrill Lynch in Houston, Texas from February 2011 until August 2012 and Sunbelt Securities in Houston from August 2012 until March 2016. He has one civil final dispute against him, and two regulatory. He has been permanently barred from the industry.

Ms. Chen was previously registered with Ameriprise in Houston from September 2005 until November 2011 and Sunbelt Securities in Houston from October 2011 until March 2016. She has one civil penalty against her, and three regulatory. She has also been permanently barred from the industry.