According to SEC court filings, Larry Dearman Sr., an Oklahoma advisor, duped his clients into sham investments. The SEC complaint alleges that Dearman used a friend, Marya Gray, to help perpetrate the scam. The SEC complaint states that Dearman and Gray defrauded investors out of $4.7 million. The SEC is requesting that Dearman and Gray be permanently banned from the securities industry and subject to severe financial penalties.

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