Jeffrey Alan Horn, Securities Fraud, Florida 2023

MIAMI – A brazen scheme by two former securities brokers has been brought to an end with prison sentences for their role in defrauding investors out of $1.5 million.

U.S. District Judge Rodney Smith sentenced Jeffrey Alan Horn, 47, of Coral Springs, Florida to 100 months in prison and Omar Leon Plummer, 54, of Margate, Florida, to 36 months in prison. The sentences were handed down after a federal jury in Ft. Lauderdale found Horn and Plummer guilty of conspiring to commit securities fraud.

The scheme, which took place between October 2014 and April 2016, saw Horn and Plummer contact prospective investors and make materially false statements and omissions about the private placement offering of restricted common shares of Sunset Capital Assets (formerly known as Sunset Brands).

Horn and Plummer failed to disclose to prospective investors that they would receive exorbitant commissions from the sale of Sunset stock. In addition, Plummer failed to disclose his real name to prospective investors, using the alias “Al Goldstein” to conceal his extensive disciplinary history in the securities industry.

Horn and Plummer misled prospective Sunset investors in other ways, including sending Private Placement Memoranda and other written offering materials that misrepresented both Sunset’s assets and the company’s intended use for the funds.

The investigation into the scheme was led by the FBI, with assistance from the Financial Industry Regulation Authority (FINRA). Assistant U.S. Attorneys Dwayne Williams and David Snider prosecuted the case.

Horn and Plummer funneled nearly all $1.5 million of investor money into their own pockets, despite neither holding an active securities license with FINRA when they contacted investors about the Sunset offering.

The sentences bring an end to a case that has left many investors feeling betrayed. The case is a reminder of the importance of doing your due diligence when investing in the stock market.

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 21-cr-60019.

Federal officials announced the sentences, bringing a sense of closure to the case.

The case is a stark reminder of the need for transparency and accountability in the financial industry.

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