ScripsAmerica Inc. (SCRCQ)

[coolerheadsprevail]

I don't know if I have any legal recourse to sue my "friend" since he knew I had never invested in stock and knew nothing about it. He led me to believe that he had invested heavily in SCRC and I am guessing that I could subpoena his brokerage records if I filed suit.

If your friend had been compensated by SCRC in any way, then he would be subject to Section 17(b), and so pursuing recourse via filing complaints with the SEC is the primary avenue for you. I would also recommend discussing the matter with a reputable securities attorney as depending on what evidence/records you have, this attorney would be able to counsel you as to whether there may be channels for you to pursue direct recourse as an individual against your friend directly.