Photo: Charles Major and Robert Lotter
From 2003 to 2018, it is alleged 63-year old Robert Andrew Lotter and 72-year old Charles Albert Major fraudulently solicited and sold victims more than $4 million in stock certificates in Lotter’s companies, eAgency, Inc. and Mymobilewatchdog, Inc.
An investigation by the California Department of Insurance discovered Lotter and Major found their victims through
Lotter’s insurance agency, R.A. Lotter Insurance Marketing, Inc. Lotter and Major, a licensed insurance agent, would fraudulently obtain clients’ private financial information to find candidates for Lotters high-risk investments.
More than 20 victims were led to believe Lotter’s insurance agency was affiliated or authorized with the California State Teacher’s Retirement System (CalSTRS), a program which provides retirement pension advice to California public school educators. After investing, some victims found out eAgency, Inc. and Mymobilewatchdog, Inc., were not affiliated with CalSTRS.
To instill confidence, investors were told profits were “just around the corner,” that they had partnerships with large internet companies and prominent mobile carrier. Newspaper articles and television interviews featuring Lotter were shown to victims to keep them at bay about the actuality of the poor financial statuses of eAgency, Inc. and Mymobilewatchdog, Inc.
They withheld they had unpaid financial obligations to prior investors and when alleged lucrative partnerships fell through.
In December of 2020, Lotter and Major were arrested for multiple felony counts of securities violations and burglary. They were booked at the Orange County Jail with bail set at $4 million for Lotter and $2 million for Major. The case will be prosecuted by the Major Fraud Unit of the Orange County District Attorney’s Office. Appropriate administrative action will also be taken against the licensees and various insurance agencies they managed.