Chesterfield Missouri News: Chesterfield man, Stoney Davin Shaw, illegally solicits $2.6 million from 47 investors to finance medical product ‘Liquid Skin’

Jefferson City, MO (STL.News) – Missouri Secretary of State, Jay Ashcroft’s Securities Division, ordered unregistered agent Stoney Davin Shaw and his company to cease and desist after allegedly soliciting at least 47 investors from at least four states to invest $2.6 million in unregistered, non-exempt securities.

Shaw, from Chesterfield, Missouri, allegedly solicited at least 47 investors, 18 of whom were elderly, to invest in his company Surgioscopy LLC.  The company appears to have operated as a legitimate medical device distribution company until 2015, at which time Shaw began raising funds to promote a new medical product he called “liquid skin”.

To finance the product, Shaw illegally sold the investors unregistered securities and misrepresented the use of the invested funds.  He claimed investors would earn interest of 12 percent every 90 days.  Shaw paid minimal returns to investors and used the funds for personal expenses, commingled funds with another business account and made numerous cash withdrawals.

“Anyone who offers or sells securities must be registered to do so, and the securities themselves must be registered or exempt from registration,” Securities Commissioner David M. Minnick said.  “In this case, neither were registered or exempt, leading to many of the investors losing all of their hard-earned money.  If you have any questions about the legitimacy of a person or company, give us a call before you invest.”

The division ordered Shaw and Surgioscopy LLC to show cause why they should not be ordered to pay restitution, civil penalties and costs totaling over $2.7 million.

Ashcroft urges all investors to know the risks. If you have any questions about an investment opportunity or wish to check the background and registration status of a financial adviser, please call the toll-free investor protection hotline at (800) 721-7996, or go online to www.missouriprotectsinvestors.com to file a complaint.

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