California Attorney General Rob Bonta has announced a settlement with AwesomeCalls, a digital day trading chatroom, and its CEO Anthony Haworth. The agreement involves $750,000 in civil penalties and prohibits the company and Mr. Haworth from offering investment advice without a license or using misleading advertisements about their services.
Attorney General Bonta stated, “AwesomeCalls deceived consumers by marketing Mr. Haworth as a brilliant day trader and boasting that they could help subscribers make thousands of dollars a day, when in reality they were operating without a license.” He emphasized that the settlement serves as a reminder that offering investment advice without proper licensing is illegal.
AwesomeCalls operates as an online platform where Mr. Haworth provides stock market advice aimed at making quick profits from daily stock movements. Since 2014, the service has been marketed to consumers both in California and across the United States through various subscription plans.
The company’s promotional materials often featured claims of profitable trade recommendations and positive testimonials from supposed subscribers. However, it was not disclosed to consumers that Mr. Haworth does not have a successful trading history and has been debarred as an escrow agent for misappropriating funds.
A copy of the stipulated judgment is available for public viewing.
