Both Coldicutt's are repeat offenders. They had numerous run-ins with both the SEC and NASD (now FINRA) when they were running Burnett Grey, one of the dirtiest brokerages/chop shops ever. What made Burnett somewhat unusual was that it was run out of San Diego. Most of the chop shops of the era were either Florida (Boca) or the New York area (Manhattan, Long Island, and New Jersey). The SEC/NASD case files from 1990 on are littered with cases against Burnett, Burnett principals/employees, and the companies they pumped.
This is another example that securities fraud artists and con men never change.