David M. Anthony and Epic Capital Wealth Advisors

On November 8, 2024, the Securities and Exchange Commission (SEC) announced administrative proceedings regarding Epic Capital Wealth Advisors, LLC (Epic Capital), following concerns related to its application for registration as an investment adviser.

Epic Capital, based in Heber City, Utah, is owned and operated by David M. Anthony, who previously faced enforcement actions for securities law violations. In April 2023, Anthony and his associated entities were permanently enjoined from offering or selling securities, providing investment advice, or managing securities accounts in Colorado for ten years. These sanctions arose from allegations that Anthony had acquired $26.5 million of investor funds through deceptive practices while operating Anthony Capital, LLC, a Colorado-based investment advisory firm.

The Colorado Securities Commissioner’s complaint alleged that Anthony:

• Offered and sold unregistered securities without proper licensing.
• Misused investor funds, including using proceeds from some investments to pay returns to other investors.
• Failed to disclose material information, such as receiving commissions of up to 44%, totaling $2.3 million.

Epic Capital filed its application to register as an investment adviser in September 2024, listing Anthony as its sole owner and chief compliance officer. The SEC’s proceedings aim to determine whether Epic Capital’s application should be denied based on its association with Anthony and the violations tied to his prior activities.

If you or someone you know was affected by the actions of David M. Anthony or his associated entities, you may be entitled to recover losses. At ChapmanAlbin, we specialize in representing investors harmed by financial misconduct. Contact us today to discuss your case and explore your recovery options.