Ronald Roach a broker with Securities America Barred over DC Solar transactions.
Ronald Roach, a registered representative from Walnut Creek, California, formerly with Securities America, was barred from association with any broker dealer or registered investment advisor by the SEC after pleading guilty to wire fraud and securities fraud charges related to DC Solar. The Court accepted his guilty plea on October 22, 2019. He is scheduled to be sentenced on January 28, 2020 and faces a maximum of 10 years in prison as a result of a scam involving the sale and lease back of mobile solar electrical generators.
DC Solar, the company with which Roach and Joseph Bayliss were affiliated, solicited investors by stressing the tax benefits available from solar energy investments. In addition to being a broker and an investment advisor, Roach prepared financial statements for DC Solar which the prosecutors argued improperly stated the returns being generated for investors on the DC Solar transactions.