The Securities and Exchange Commission has filed a complaint against Reign Financial International, LLC, Reign Financial International, Inc., and associated individuals including Giorgio Johnson, Gary Mills, Patrick Allen, Jeremiah Beguesse, and Fabian Stone, along with Berone Capital, LLC. The complaint, filed on May 12, 2026, alleges that the defendants raised funds through unregistered securities offerings in violation of federal law.
The SEC alleges that the Reign Financial entities pooled investor capital for purported investment opportunities without registering the offerings with the SEC or qualifying for an exemption. The complaint claims that defendants made material misrepresentations to investors regarding the nature of the investments, expected returns, and the use of proceeds.
Unregistered offerings carry heightened risk because they bypass the disclosure and diligence requirements of the Securities Act of 1933. Without registration or a valid exemption, issuers are not required to file a prospectus with the SEC, meaning investors receive less information and have fewer legal protections. The SEC complaint notes that the defendants operated outside this regulatory framework while soliciting funds from retail investors.
Key allegations
The SEC complaint alleges that the Reign Financial entities pooled investor funds for specific projects or investments, then diverted money to unauthorized purposes or failed to deploy it as described. The defendants allegedly targeted investors through direct solicitation and relationship-based marketing, common tactics in unregistered offering fraud.
How to verify a securities offering
Investors can protect themselves by checking two primary resources. First, the SEC’s EDGAR database at sec.gov/edgar contains registration statements for legitimate securities offerings. If a company or promoter cannot produce a filed registration statement or a formal Regulation D notice, that is a significant concern.
Second, FINRA BrokerCheck at brokercheck.finra.org allows investors to verify whether individuals soliciting investments hold the required securities licenses. Registered representatives must have Series 7 and Series 63 or 66 licenses at minimum.
The SEC is seeking disgorgement, prejudgment interest, civil penalties, and permanent injunctions against the Reign Financial defendants. The case remains in litigation.
