Legal Issues:

Investigation reveals that Boada, his associates and his business are acting in violation of various State and Federal laws. Specifically:

UNLICENSED PRACTICE OF LAW

Investigation reveals that Antonio Boada, a/k/a A. Antony Boada Cartaya, represents himself to be an attorney and claims that his Florida based business, BFI, is a law firm specializing in “Peerage Law.” Although Boada claims to have earned his law degree at the Modern University of Lisbon, there is no evidence in support of his claim. Florida Statutes require that any person who holds himself out to be an attorney must licensed by the Supreme Court of Florida. Specifically:

FSS 454.23, entitled, “Penalties” states in pertinent part that:

Any person not licensed or otherwise authorized by the Supreme Court of Florida who shall practice law or assume or hold himself or herself out to the public as qualified to practice in this state, or who willfully pretends to be, or willfully takes or uses any name, title, addition, or description implying that he or she is qualified, or recognized by law as qualified, to act as a lawyer in this state shall be guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.
Boada is not recognized by the Florida Bar.

UNREGISTERED SECURITIES AND BROKERS

Boada, acting through BFI, advertises and promotes “investment portfolios” consisting of noble titles, the legitimacy of which are widely questioned. By all appearances, Boada is engaged in the sale and transfer of unregistered securities, an activity he conducts without the licenses mandated by Florida Statutes and federal laws related to securities transactions.

Florida statutes define a security as being any contract related to any investment. Specifically: FSS 517.021, entitled, “Definitions” says in pertinent part that the following terms have the following meanings:

(19) "Security" includes any of the following:
q. An investment contract.

FSS 517.301, entitled, “Fraudulent transactions; falsification or concealment of facts” defines an “investment.”

(2) For purposes of ss. 517.311 and 517.312 and this section, the term "investment" means any commitment of money or property principally induced by a representation that an economic benefit may be derived from such commitment

Since Boada specifically and consistently refers to the titles he brokers as “investments,” which are compiled in “investment portfolios,” for clients that he identifies as his “investors,” the appertaining contractual documents are securities.

Florida state statutes require that these securities must be registered prior to offering them for sale. Specifically, FSS 517.07, entitled, “Registration of securities,” states in pertinent part:

(1) It is unlawful and a violation of this chapter for any person to sell or offer to sell a security within this state unless the security is exempt under s. 517.051, is sold in a transaction exempt under s. 517.061, is a federal covered security, or is registered pursuant to this chapter.

Further, Florida state statutes require that anyone involved in the sale of securities must be registered. Specifically, FSS 517.12, entitled, “Registration of dealers, associated persons, investment advisers, and branch offices” states in pertinent part:

(1) No dealer, associated person, or issuer of securities shall sell or offer for sale any securities in or from offices in this state, or sell securities to persons in this state from offices outside this state, by mail or otherwise, unless the person has been registered with the department pursuant to the provisions of this section.

Securities transactions are tightly regulated, requiring full and honest disclosures; Caveat Emptor does not apply. To the extent that fraud is involved in the inducement to invest, the broker can be held criminally culpable under Florida Statutes related to securities. Specifically: FSS 517.301, entitled “Fraudulent transactions; falsification or concealment of facts” prohibits misleading business practices, to wit:

(1) It is unlawful and a violation of the provisions of this chapter for a person:
(a) In connection with the rendering of any investment advice or in connection with the offer, sale, or purchase of any investment or security, including any security exempted under the provisions of s. 517.051 and including any security sold in a transaction exempted under the provisions of s. 517.061, directly or indirectly:
1. To employ any device, scheme, or artifice to defraud;
2. To obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
3. To engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon a person.
(c) In any matter within the jurisdiction of the department, to knowingly and willfully falsify, conceal, or cover up, by any trick, scheme, or device, a material fact, make any false, fictitious, or fraudulent statement or representation, or make or use any false writing or document, knowing the same to contain any false, fictitious, or fraudulent statement or entry.
Neither Boada, nor his securities, are registered pursuant to the Florida statutes pertaining to securities.

UNREGISTERED CHARITABLE ORGANIZATIONS AND SOLICITORS

Boada is also engaged in the solicitation of “tax deductible donations” for charitable organizations. Florida State Statutes require that charitable organizations, and those who solicit funds on their behalf, are required to be registered with the State. Specifically: FSS 496.405, entitled, "Registration statements by charitable organizations and sponsors," states in pertinent part that:

(1)(a) A charitable organization . . .which intends to solicit contributions in this state by any means . . . must, prior to engaging in any of these activities, file an initial registration statement, and a renewal statement annually thereafter, with the department.

Further, FSS 496.410, entitled, " Registration and duties of professional solicitors” states in pertinent part that:

(1) No person may act as a professional solicitor unless the person has first complied with the requirements of ss. 496.401-496.424 and has obtained approval of the department of a registration statement in accordance with subsection (5). A person may not act as a professional solicitor after the expiration, suspension, or cancellation of his or her registration.
Neither Boada, nor the organizations he claims to represent, are registered pursuant to the Florida statutes pertaining to charitable organizations.

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