Tennessee Promoter Fined $15,000

“America’s Last Stand” promoter Ledford Lynn Herron was fined a $15,000 civil penalty for allegedly failing to pay investors.  

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Sevierville Convention Center

The event, held June 26-27, 2014, at the Sevierville Convention Center in Tennessee, was attended by prominent conservative figures such as Sarah Palin, Rick Santorum and John Michael Montgomery, and was sponsored by the Sevier County Tea Party.

Ticket prices ranged from $49 to $1,000.

The Tennessee Department of Commerce and Insurance Securities Division fined Herron and JL Productions for failing to pay back investors after promising them a 125 percent return, the Knoxville News Sentinel reported.

According to a Department of Commerce ruling, Herron told investors they would receive payment 120 days after the event, but the money was never returned. In addition to the fee, the Department also barred Herron from registering to sell securities or investments in Tennessee and has ordered him to cease and desist conducting securities transactions.

When the Sentinel contacted Herron on June 2, he said his promotion company no longer existed and referred the paper to his business manager.

The business manager never responded back to the Sentinel.

“Before investing always remember that if the deal sounds too good to be true, it probably is. We urge Tennesseans to contact us before they invest their hard-earned money on ventures that could leave them holding the bag,” Department assistant commissioner Frank Borger-Gilligan said in a statement.