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Portland man fined by state for penny stock investment scam

December 20, 2017


Salem, OR—The Oregon Department of Consumer and Business Services, Division of Financial Regulation issued a cease-and-desist order against Marc J. Welch (aka Marc J. Bryant), Mike Cohen, and One World Energy Advisors LLC for violating Oregon securities law as part of an investment fraud scam.

The division fined them $30,000 for illegally selling unregistered shares of stock in Green Automotive Company without a license and giving victims the false impression that they were affiliated with the company.

The investigation revealed Welch and Cohen conducted a cold-call, penny stock scam inviting victims to buy shares of unregistered Green Automotive stock, alleging that the company entered into a lucrative contract to build green energy vehicles for FedEx and UPS. At least one Oregonian was a victim of this scam and invested $35,000 that was never returned.

Be aware that Marc J. Welch, aka Marc J. Bryant, may have relocated to Portland and may still be operating an investment scam.

“Oregonians should watch out for any red flags before making an investment,” said Jean Straight, acting DCBS director. “Investments in green energy, new technologies, gold, silver, oil, lumber, and even legal marijuana are exciting industries used to scam investors.”

Oregonians that are considering new investments can check the license of their broker or investment adviser and make sure the security is registered with the division by calling 866-814-9710 (toll-free) or visiting http://dfr.oregon.gov/help/complaints-licenses/Pages/check-license.aspx

The order is available at http://dfr.oregon.gov/AdminOrders/enf-orders-2017/welch-marc-final-order_Conformed.pdf

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The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit dcbs.oregon.gov and dfr.oregon.gov.

Press questions

Brad Hilliard
503-947-7873
brad.hilliard@oregon.gov

Mark Peterson
503-947-7868
mark.peterson@oregon.gov​​​​​​​​​​​

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