AG Brown announced that his Securities Division reached a settlement with Middle Class United, Incorporated, (MCU) a Maryland entity that used social media to promote and issue investment contracts, which they unlawfully called “memberships,” to more than 6,500 investors across the country.     

“By using social media to sell false promises and then pocket their clients’ money, Middle Class United preyed on investors who just wanted to build themselves a more secure financial future. This settlement makes clear that our Office will hold accountable anyone who uses deceptive schemes to exploit Marylanders’ financial hopes.” -AG Brown