The SEC has charged a “recidivist” investment advisor with violating his bar from the industry.

Brandon Copeland had consented to a permanent collateral associational bar and an investment company bar back in July 2019 to settle charges that the investment advice firm Salus, owned by Copeland and Gregory Prusa, made several false statements in its Form ADV filings, the SEC says.

Salus allegedly claimed to have up to $178 million in assets under management while it in fact had nothing and wasn’t even registered with the SEC, according to the regulator.

Copeland and Prusa had consented to the bars and to pay $25,000 each in civil penalties in 2019, the SEC says.

But following the bar, “Copeland immediately violated the Commission’s order and, together with Copeland Capital, committed new violations,” the SEC says in a March 19 litigation release.

Copeland allegedly set up a new investment advice firm and private fund before the SEC’s 2019 order was instituted and then promoted himself, Copeland Capital and their private fund with “numerous misstatements and omissions regarding the status and success of the private fund” and Copeland’s own personal industry experience, according to the SEC’s complaint filed in U.S. District Court for the Northern District of Ohio.

Copeland also allegedly failed to pay the $25,000 civil penalty he had agreed to in 2019, the regulator says.

The SEC is seeking an injunction, civil penalties and disgorgement of allegedly ill-gotten gains plus prejudgment interest from Copeland and Copeland Capital, according to the litigation release.

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