Texas State Securities Board settles with Abra

Quick Take

  • In June 2023, Texas officials filed enforcement actions against Abra and its CEO for alleged securities fraud and operating under insolvency.

The Texas State Securities Board announced Monday that it has settled in principle with Abra and its CEO, Bill Barhydt.

Abra is the common name for four affiliated companies controlled by Barhydt, which offered interest-bearing Abra Earn and Abra Boost programs.