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Shapeshifting: Congresswoman Peltola changes her official congressional website name to reflect her original ‘Sattler’

Congresswoman Mary Peltola has a last name history that can be confusing: She started life as a Sattler, then became a Kapsner, a Nelson, and finally Mary Peltola. It’s made it difficult for researchers to determine which name she used as a legislator when she voted for a state income tax.

Now, as of this week, Peltola is morphing her name again. Her official page at the U.S. Congress has gone back to her first name, Sattler, combining it with her most recent married name, Peltola, which has Finnish origin. Gene Peltola, Mary’s husband, claims Yupik and Tlingit heritage, rather than Finnish heritage, as the name suggests.

See the newly revamped Sattler-Peltola congressional website.

Sattler is a name that comes from Middle High German, and means “saddle.” The surname is also found in other European countries.

Mary Peltola’s father, Ward Sattler, was a white man from Nebraska who went to Colorado State University, graduating in 1963. He taught in rural Alaska, married a woman who was part-Native and they had 11 children. The Sattler name is politically advantageous to Mary Peltola because Sattler was a Republican who ran for the Alaska Legislature in 2004, 2006, and 2008. And because there are so many of them.

Mary Peltola never mentions her Caucasian heritage. She identifies as Yup’ik, from her mother’s side. Gene Peltola leans on his own Native, rather than Finnish connections, to advance his career as well. Most recently, he was with the Bureau of Indian Affairs.

Congresswoman Peltola is, by shapeshifting her name, angling for both the Democrat advantage and the Republican advantage of her non-Native father.

On her campaign, she hasn’t quite caught up with the changes. It’s still MaryPeltola.com.

Close race for mayor of Utqiagvik to be determined Monday when final few dozen votes are tallied

Elizabeth Asisaun Toovak leads the Utqiagvik mayor’s race by 29 votes. Tookvak has 184 votes, with Forrest Deano Olemaun in second place with 155 votes. Third vote-getter is Martin Qalgilan Edwardsen, with 98 votes. Seven people in all ran for the seat.

The final remaining votes, 63 questioned and absentee ballots in all, will be tallied on Monday, Oct. 10, when the election will be completed for America’s most northern city. The unofficial results for the Oct. 4 election also show Justina Wilhelm, who was unopposed, will remain on the City Council for Seat A, and Corrine Tuuq Gutierrez-Edward, also an incumbent, is leading for Seat B.

Pro-fish or primarily pro-tribe? Critics say Peltola shows true goal as congresswoman for some, not all Alaskans

Is Mary Peltola really the pro-fish candidate? What does pro-fish mean, when the ultimate intent is to not put salmon in a wildlife refuge, but conserve a resource so you can kill the fish, slice them up, and eat them?

According to some in the fishing crowd in Kodiak last week, Peltola misses the mark when it comes to fishing, as an economy and as a way of life for many Alaskans. Not al were impressed with her at the Kodiak candidate forum focused on fishing.

Before she left Washington, D.C. at the end of September, Peltola, the Democrat congresswoman finishing Congressman Don Young’s term, voted in the House Natural Resources Committee to authorize a rewrite of the Magnuson Stevens Act with an important added provision: Bycatch would be banned, so severely curtailed that critics claim a judge could rule that commercial fishing itself could be shut down, depending on what environmentalist litigants want.

Judges such as Alaska Federal District Judge Sharon Gleason do that all the time, these days: They shut down resource harvesting in obedience to the environmental litigation industry.

The rewrite of the act is called the Sustaining America’s Fisheries for the Future Act, and it has not yet passed Congress. If it does pass, it’s a gift wrapped in a bow to groups like the Natural Resources Defense Council, EarthJustice, and other litigious eco-extremists that have long fought to shut down commercial fishing in Alaska. Groups like PETA, which don’t want any fishing at all, would love this legislation.

At the Fish Debate in Kodiak last week, Congresswoman Peltola talked about the importance of her work to preserve fish and the fight against climate change. It’s on all of her campaign literature and it was the focus of her short few days in Washington, D.C. as Alaska’s temporary congresswoman.

During that time, she advanced legislation that adds two tribal members to an 11-member North Pacific Fisheries Management Council. Not Filipinos, nor African-American Alaskans. Just tribal members, in a return to race-based quotas. Not even tribal members from Washington state — just Alaska tribes.

She voted in favor of the draconian bycatch law that will not only ensnare the trawlers in the Bering Sea and Gulf of Alaska, but could be used against family-owned fishing businesses.

Sarah Palin, also a candidate for Congress, praised Peltola for her work in Congress, which Palin did not seem to realize has such a dire legal consequence for Alaska’s largest independent private business sector. Palin said that without having the bill before her, she couldn’t really speak to the specifics.

Candidate Nick Begich said that, with all due respect, he’s for fishermen and women, and he said that means protecting fisheries is ultimately about protecting Alaskans and their way of life.

“The fact that this [Magnuson rewrite] is being led by a California congressman, and this is his version of a vision for coastal Alaska does not sit well with me,” said Begich.

The rewrite of Magnuson-Stevens Act was authored by Democrat U.S. Reps. Jared Huffman and Ed Case, both adherents to the climate change religious order. Huffman has long been an advocate for locking up Alaska’s coastal plain of the Arctic National Wildlife Refuge, and ending oil and gas as an economic sector in Alaska. Now he’s attacking Alaska’s fishing economy, and Peltola appears ready to help him.

Federal judge rules against NY gun law on concealed carry that gives government access to social media accounts

A federal judge issued a temporary injunction on Thursday against a new New York law limiting concealed carry of firearms in the state. New York State Attorney General Letitia James said she will appeal.

U.S. District Judge Glenn T. Suddaby’s orders do not apply to all of the law, which went into effect in September after being passed by the Legislature in July.

Suddaby struct down parts that required applicants to prove they have “good moral character,” to submit to the government their list of social media accounts, and to provide the names of members of their family to the government in order to get a concealed carry permit. His order also allows citizens to carry guns in public places, such as Times Square or parks and on subways. He struck down the part of the law that required businesses to post a statement on their walls to clearly say whether they allow concealed firearms on their premises.

“Shouldering an applicant with the burden of showing that he or she is of such ‘good moral character’ (in the face of a de facto presumption that he or she is not) is akin to shouldering an applicant with the burden of showing that he or she has a special need for self-protection distinguishable from that of the general community, which is prohibited under (the recent Supreme Court ruling),” Suddaby wrote.

“In essence, New York State has replaced its requirement that an applicant show a special need for self-protection with its requirement that the applicant rebut the presumption that he or she is a danger to himself or herself, while retaining (and even expanding) the open-ended discretion afforded to its licensing officers,” the judge wrote.

Erich Pratt, senior vice president of Gun Owners of America, issued a statement: “Anti-gunners like Kathy Hochul and Eric Adams lied and misrepresented the Second Amendment to the courts, putting New Yorkers at a great disadvantage in the midst of rising crime. We are grateful to Judge Suddaby for his quick action to restore the right of the people to keep and bear arms. Once the TRO goes into effect, GOA encourages New Yorkers to exercise their rights and to defend themselves and the ones they love.”

For the expected appeal, there will be a hostile court. The Second Appeals Court was flipped conservative by former President Donald Trump. But since Joe Biden has become president, it has flipped back to becoming a liberal court.

Biden added Judge Sarah A.L. Merriam of Connecticut, with a confirmation vote that was a “yea” by Alaska Sen. Lisa Murkowski and other liberal Republicans, while Sen. Dan Sullivan of Alaska was a “nay” vote. Also added to a vacancy on the court was Judge Alison Nathan, who was confirmed by the Senate earlier this year, with no votes from both of Alaska’s senators. Nathan worked in the Obama White House.

Attorney General James said, “Common-sense gun control regulations help save lives. I will not back down from the fight to protect New Yorkers from repeated and baseless attacks on our state’s gun safety measures. I will continue to defend our responsible gun laws and fight for the safety of everyday New Yorkers.”

Jim Crawford: Sorting the good guys out from the bad guys and getting it right on the PFD this election

By JIM CRAWFORD

Let’s get it right this time in dealing with the Alaska Permanent Fund and its Dividend.

First, the calculation that worked for over 30 years was earnings-based. In other words, how much did the Fund earn over the last five years, less the inflation adjustment, divided by the number of qualified Alaskans? That amount was calculated in October of each year and paid shortly thereafter. Earnings-based dividends and averaging is the only calculation that is sustainable. You and I don’t get a dividend if we don’t have the earnings in the Fund. That’s good policy since we need to apply good investment decisions by our vendors. If the vendors don’t produce the earnings, we’ll get new vendors. Right?

Legislators began to tinker with the fund’s dividend almost immediately. They redefined the statutory income of the fund and said the dividend was not sustainable. Their solution was to create a new approach to calculating the dividend without the safeguards of earnings.  They called this, the “percentage of market value” and put in a 5% cap on the total value of fund that would be split between governmental expenses and the dividend.  

All this talk about overdrawing the Permanent Fund balance is garbage. If the Legislative Majorities set 5% of the Fund as the amount of transfer, then decide to use more than 50% of that amount for government services, they are cheating you and your family of your dividend. The Legislature, which created the problem, won’t solve it. Will voters trust those Legislators who stole from them previously?

As a banker for nearly 50 years in Alaska, I read financial statements. Let me quote you what the Legislative Auditor, Kris Curtis, had to say about how the Bill Walker Administration and the Legislative majorities dealt with responsibilities.  

Legislative Auditor Kris Curtis:

“State of Alaska’s General Fund rents and royalties are not reported in accordance with generally accepted accounting principles and management declined to correct the misstatements. Misstatements include an unreported General Fund prior period adjustment of $199.0 million for overstated General Fund royalty revenues of $99.8 million in (fiscal year 2018) and $99.2 million in (fiscal year 2019), and an understatement of $199.0 million due to other funds,” Curtis wrote in her Independent Auditor’s Report to committee members dated Feb. 22.

The root cause was the decision by Walker officials to transfer mineral royalty revenues owed to the Permanent Fund Corporation and the Constitutional Budget Reserve to the General Fund instead, according to the audit report.  Then they swiped the $1.4 billion from the Constitutional Budget Reserve.  Auditor Curtis advised investors not to trust the financial statements of the State of Alaska. 

Read: Audit: state books off by at least $1.6B

If we can take the audit language and translate it into English:

Former Gov. Bill Walker and his legislative cronies stole nearly $200 million from the Alaska Permanent Fund Corp and you, because they wanted to spend the money on government instead of paying the dividend. Then they did it again for $1.4 billion to the Constitutional Reserve’s funds.  

Since its silly season for campaigns, we have former and current bureaucrats on the radio attempting to guilt trip us into giving up a reasonable 50/50 dividend, one that’s based upon a five-year average of earnings of the fund. 

They tell you that a normal dividend is overdrawing the Alaska Permanent Fund.  Not true.

They tell you that a normal dividend is unsustainable.  Not true.

They tell you that a normal dividend is unaffordable.  Not true.

And who are these liars? In the Legislature, they are led by former senator Cathy Giessel. When I was president of Permanent Fund Defenders, I met with Giessel, and she told a powerful story of conversion. She acknowledged that she voted against the dividend and related that her door-to-door canvassing had resulted in her conversion to an 100% advocate of the full dividend. She said we could count on her.  

She was reelected with the support of permanent fund advocates.  

Then she flipped again and now is an advocate of the percent of market value, which dissolved the connection between the performance of the Fund and the people’s 50/50 dividend.

To make matters worse, she’s again running for the Senate as a Republican. She co-Chairs Bill Walker’s campaign for governor and just got a $25,000 donation from the Alaska AFL-CIO, the Democrats’ surrogate campaign operation.  

In the House, Rep. Andy Josephson, is an attorney, teacher and was the most vocal defender of former Permanent Fund President and CEO, Angela Rodell in the most recent meeting of the Legislative Budget and Audit Committee.  

Although twin reports were published that Rodell lost the confidence of the Board of Trustees and was terminated, Rep. Josephson defended her advocacy of the Percent of Market Value and policy of the House to reduce dividends rather than reconnect them to earnings.

In the last campaigns (2020) nine incumbents were removed by the voters. We’re not done yet. Those incumbents did not agree with the Constitution’s Section 2, that “All government originates with the people, is founded upon their will only, and is instituted solely for the good of the people as a whole.”  

Some incumbents have danced on the question of dividends saying they are preserving the Alaska Permanent Fund. Don’t be tricked as I was to support folks that tell us their story of conversion, while voting for the special interests. Can you decide how to spend your dividend or will Legislators?  

Let’s not forget that the Alaska Permanent Fund only receives 25% of the revenue. The Legislature already gets 75% but that’s not enough.  The only thing stopping the greedy blood suckers are the people who call their legislators and demand an answer to the simple question, “Have you voted for the full dividend or not?” If you have an open seat, call each legislator and ask them “Will you vote for a full dividend or not?”  

Once you’ve discovered the good guys from the bad guys, help the good guys in their campaigns and punish the bad guys by voting against them. The will of the people is scoffed at by the tricksters who tell you one thing then do another. They can’t get away with it if you pay attention.    

 Jim Crawford is the former President of Permanent Fund Defenders, pfdak.com, an Alaska-based educational nonprofit corporation.  Jim is a third generation, lifelong Alaskan who co-chaired the Alaskans Just Say No campaign to stop the raid on the Permanent Fund in 1999.  He also served Gov. Jay Hammond as a member of the Investment Advisory Committee, which formed the investment and corporate strategy of the Alaska Permanent Fund Corporation in 1975.   

Satire or serious? Democratic senators in Alaska demand Republican attorney general investigate high fuel prices

It reads like a story from the satirical news site Babylon Bee, with a headline that might say, “Democrats can’t figure out why shutting down oil production has led to high prices.

On Thursday, Anchorage Sen. Bill Wielechowski and Fairbanks Sen. Scott Kawasaki made public their latest demand letter to Alaska Attorney General Treg Taylor, in which they urge him to investigate what they have newly discovered — that gas prices are high again. They have a theory that gas sellers of Alaska are committing price gouging.

“Gasoline prices in Alaska have spiked by over 76 cents per gallon in the last month and are now $1.62 higher than the national average. The oil is from Alaska and is mostly refined in Alaska and there is no rational reason for this. That’s why yesterday I joined with Sen. Scott Kawasaki in asking the Attorney General to investigate this to protect Alaskans from getting gouged at the pump,” Wielechowski wrote.

In fact, Alaska’s refineries have the capacity to refine about 164,000 barrels of crude oil per calendar day, while the state is pumping about 475,000 barrels per day down the Trans Alaska Pipeline System, according to the Energy Information Agency.

Prices in Alaska for unleaded averaged $5.429 a gallon on Friday, according to AAA. But the price in California is much higher — $6.355, and drivers in Washington state are paying an average of $5.40 a gallon. Taxes on gas in those states are much higher than Alaska.

The two senators claim, without evidence, that prices in the Lower 48 have stabilized.

The head of petroleum analysis at GasBuddy.com said the dramatic increase on the West Coast is due to refinery maintenance issues.

“A string of planned and unplanned refinery maintenance issues has severely tightened fuel supply in California,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, as reported by the Times of San Diego. West Coast fuel inventories are also at the lowest level in about a decade according to Energy Information Administration.

Until the West Coast refineries are fully operational again, supply is going to be tight and will cause pump prices to be volatile,” he said.

In Alaska, oil production is near its lowest level in 40 years, as a result of progressive anti-oil federal policies that have made it difficult for companies to operate in the Arctic. But the two Democrats also appeared to be unaware that the Democratic Party and its environmentalist surrogates have a hand in lower production.

“Alaskans are getting gouged, and we need to find out why. Gasoline prices have gone up by over $1 in just the last week in Anchorage for no perceivable reason. It makes absolutely no sense – the oil comes from Alaska and is refined in Alaska,” said Sen. Wielechowski. “It’s our duty and the Administration’s duty to Alaskans to determine why this is the case, find solutions, and collaborate to reduce costs. Too much of Alaskans’ money is going to fuel instead of food on the table.”

“Alaskans have long seen high gasoline and heating fuel prices even with an oil pipeline in our backyard. We need answers, and we need them now to help lower the financial burden too many Alaskans are facing this upcoming winter. Knowledge is power and both branches of government need that information to make informed decisions on behalf of all Alaskans,” Sen. Kawasaki said.

“There are no apparent national or international market forces that would justify such disparate pricing in Alaska. While Russia’s invasion of Ukraine last February caused prices for crude oil and refined fuels to spike temporarily, prices have stabilized for most of the country—yet Alaska’s prices remain abnormally high. Given the severe financial burden that high fuel prices place on Alaskan families, it is important that we get to the bottom of this serious concern and identify any action that can be taken to address these excessive prices. With this investigation the Department should determine the cause of the exorbitant prices, whether any consumer protection laws have been violated, and what actions the state can take to address this crisis,” the two Democrats wrote.

Gas prices have been going up at an alarming rate all over the nation, partly because of the Biden Administration’s shutdown of domestic production as he tries to appease his eco-alarmist base, and partly because Russia President Vladimir Putin has taken advantage of a feeble American president and has destabilized Eastern Europe and the world while he has a chance. Last week, explosions took out a major gasline from Russia to Europe, in an act may believe was sabotage. This week, a bridge to Crimea was blown up. Power plants are threatened in Ukraine. Prices for gas in Europe will probably skyrocket this winter as a result of the war on Ukraine, and other fuels will follow. Worldwide, people are waking up to the reality of what a winter of high fuel prices might mean, and Democrats Wielechowski and Kawasaki seem to have just gotten the memo.

For the past six months, the Biden Administration has drained one million barrels of day of oil from the Strategic Petroleum Reserve in an effort to slow down price increases. That worked for a while, but world events have caught up with his strategy, and prices are now climbing quickly.

Also last week, OPEC and Russia agreed to cut production to drive up prices of oil.

Small town politics: Houston mayor, deputy mayor, treasurer quit, leaving city without leadership

The Mat-Su Valley City of Houston, population 1,952, has lost its mayor, deputy mayor, and city treasurer — all at once. The three officials sent the city clerk their letters of resignation on Friday.

Mayor Virgie Thompson, Deputy Mayor Lance Wilson, and Treasurer Sally Schug gave no reasons for their resignations, which went into effect Friday.

In the October election, David Child, Sandy McDonald, and Mike Adams appear to have overwhelmingly won seats on the City Council and those final results will be certified on Monday, Oct. 10. Councilman Paul Stout did not win reelection, as voters replaced him with former mayor McDonald elected.

In her September report to the community, Mayor Thompson said “I have nothing to report. Good Luck!” Elected one year ago, her seat was to expire in October of 2023.

Councilman Lance Wilson’s seat was not up for election and doesn’t expire until October of 2024, and Council Seat B is also vacant.

A special meeting was scheduled for Monday for swearing in the new council members, and for the council to select a new mayor from its members. But whether there will be a quorum is in question.

Courage in medicine: Cornell U. doctor admits he was wrong about vaccine mandates

By JON MILTIMORE | FOUNDATION FOR ECONOMIC EDUCATION

The great martial artist Bruce Lee reputedly said that all mistakes are forgivable—if one has the courage to admit the mistake.

Paul Fenyves, a primary care physician in New York City who specializes in internal medicine, seems to have learned this lesson. Fenyves, a primary care doctor at Weill Cornell Medicine, recently admitted he was wrong to support vaccine mandates.

“I was initially supportive of Covid vaccine mandates in the Fall of 2021. At the time, I was told that Covid vaccines don’t only protect the individual receiving the vaccine, but they also benefit the community by reducing spread of the virus,” Fenyves wrote on the Substack Sensible Medicine.

Convinced that mandatory vaccination would create a “wall of immunity” that would bring the pandemic to an end more quickly, Fenyves said it seemed “reasonable to prioritize societal welfare over individual autonomy,” noting that early clinical trials of Pfizer’s vaccine were shown to stop 95 percent of infections.

“Surely a vaccine that prevents almost all infections would halt community spread, right? Wrong,” he writes. “Perhaps there was a time when Covid vaccines could significantly reduce community transmission, but that time was short-lived, and the virus quickly evolved and learned to evade vaccine-induced immunity.”

For Fenyves, his awakening moment came in December 2021, when Portugal experienced a massive surge of Covid despite a vaccination rate of more than 90 percent.

Fenyves concedes there are other reasons one could support mandatory vaccination even if it doesn’t reduce community spread, noting that some contend forced vaccination is moral because it’s done “for their own good.”

“I find these arguments to be weak justifications for violating an individual’s autonomy and mandating a medical intervention,” he writes. “Furthermore, these arguments are completely inadequate when applied to young people, whose risk of hospitalization from Covid is low, and whose likelihood of benefiting from vaccination is similarly low.”

Some may argue that Fenyves is right about vaccine mandates, but for the wrong reasons.

Vinay Prasad, an associate professor in University of California, San Francisco’s Department of Epidemiology and Biostatistics, argues vaccine mandates would be wrong even if there was a community benefit because the social costs are too high.

“My conclusion was always that the societal harm of mandates far exceeds any benefit, and as such I always opposed mandates,” writes Prasad in an introduction to Fenyves’s article.

Others might wonder why it took Fenyves until December 2021 to recognize he was wrong about vaccine mandates. Put aside for a moment that vaccine mandates violate bodily autonomy and the non-aggression principle, which makes them inherently immoral.

As early as August 2021 it was clear that “vaccine breakthroughs” were quite common and that naturally immunity conferred powerful protection against Covid. Why was it not until December 2021 that Fenyves realized he was wrong about vaccine mandates?

These are fair points, but they should not overshadow the larger lesson Fenyves is sharing, which is that scientists and public health officials must act more humbly with their immense power and recognize the limits of their knowledge.

“Those in the medical community who, like me, argued that vaccines should be mandated to protect the community should feel chastened,” writes Fenyves. “When considering mandating vaccines in the future, we should proceed with humility, acknowledging that our knowledge is far from perfect and our truths are often transitory.”

Two words in the last sentence are incredibly important: knowledge and humility.

These same two words are found in F.A. Hayek’s famous 1974 Nobel Prize speech, in which he warned against scientists and planners acting on “a pretense of knowledge.” Instead of recognizing the limitations of knowledge in an infinitely complex world, Hayek saw modern humans “dizzy with success” over the marvels of modern science, which had convinced them they possessed enough knowledge to engineer society effectively.

“The curious task of economics,” he famously wrote in The Fatal Conceit, “is to demonstrate to men how little they really know about what they imagine they can design.”

The antidote to this fatal conceit—which Hayek warned leads to “grave consequences”—is humility.

T.S. Eliot once observed that humility “is the most difficult of all virtues to achieve,” and a lack of it is what lurked beneath the deadly collectivist schemes of the twentieth century, from Stalin’s Five Year Plans to Mao’s Great Leap Forward and beyond.

The “fatal striving to control society” is born of arrogance, Hayek understood. And it was this arrogance that led public health officials and politicians to decide they had enough knowledge to make life-and-death decisions for others during the pandemic, to decide what they had to put into their bodies.

Fenyves is right that a healthy dose if humility is in order, and that the knowledge we possess is far from perfect.

If we fail to learn this lesson, the consequences could be even worse the next time government officials attempt to prevent a crisis from happening.

Jonathan Miltimore is the Managing Editor of FEE.org. His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. Bylines include Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times. 

Originally published on FEE.org; read the original article here. Image Credit: Kenneth C. ZirkelCC BY-SA 4.0, via Wikimedia Commons.

Were you scammed? State orders Anchorage-based Tycoon Trading LLC to cease and desist in case involving Alaska investors and millions of dollars

Alaska investors may have lost millions of dollars what is being characterized as a fraudulent securities operation being run by an Anchorage business that is now in hot water with the State Division of Banking and Securities.

The division says Tycoon Trading LLC and its sole owner Garrett A. Elder have violated provisions of the Alaska Securities Act and have been ordered to cease and desist.

The division warns there may be many victims to this alleged scam. The division has so far received information from 12 investors about securities that Elder sold to them between June 23, 2018 through Feb. 7, 2022, but the State says there may be many more investors with significantly more money invested through Elder and Tycoon Trading.

The cumulative amount known to have been invested was nearly $1.8 million made by or on behalf of Alaskans between the ages of 6 to 63. According to the State, Elder issued falsified statements to investors reflecting positive earnings on investments.

“All or substantially all of the investors’ assets have been dissipated. Despite repeated attempts, investors have been unable to access their funds,” the State agency wrote.

The Division says the securities included “participation in profit sharing agreements, investment contracts, and speculative trading in foreign currencies to Alaska residents through his business Respondent Tycoon Trading LLC. Investors would deposit money with Elder based on Elder’s assertions that Elder would use his expertise to further invest the funds for a profit. The investment contracts signed by or on behalf of investors required splitting the profits between the investor and Tycoon Trading LLC. Elder managed and traded assets held in a common pooled accounts by executing securities transactions without being registered as an investment adviser representative as required by state statute.”

In the state’s order, signed by Commissioner Julie Sand and Banking and Securities Director Robert Schmidt, Elder and Tycoon Trading is a legal directive to stop all activities relating to securities trading, to pay $1.777 million in restitution and $1.777 in civil penalties. Elder could request a hearing to be held on the. matter, but until such time, he’s prevented from doing business as an investment agent or financial adviser, and the State of Alaska says it is further investigating to see if there are other victims.

The company was first organized in Alaska and registered with the State Department of Commerce in 2012, with the purpose stated of doing “miscellaneous financial investment activities.”

The State document was posted today: