The Securities and Exchange Commission (“Commission”) today announced the filing of an emergency action in the United States District Court for the Middle District of Pennsylvania against Robert Glenn Bard (“Bard”), of Warfordsburg, Pennsylvania and his firm, Vision Specialist Group LLC (“Vision Specialist”), an investment adviser registered with Pennsylvania and West Virginia, for conducting an ongoing fraud. The Commission alleges that from at least 2005 to the present, Bard and Vision Specialist have targeted investors in and around the small rural community of Warfordsburg with promises of high yields and safety of principal, telling clients that they had invested in safe investments such as bonds, certificates of deposit, and money market funds. In reality, Bard squandered hundreds of thousands of dollars or more of client funds by making risky (and losing) investments in penny stocks and other securities and borrowing on margin..
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