SEC Says Radio Host Gave Shaky Investment Advice

Law360, New York (September 5, 2012, 9:20 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday accused radio host and investment adviser Raymond J. Lucia Sr. of spreading misleading information about a wealth management strategy that he promoted at a series of client seminars.

In an order instituting administrative and cease-and-desist proceedings, the commission alleges that the host of the nationally syndicated “The Ray Lucia Show” radio program, along with his investment advisory firm Raymond J. Lucia Cos. Inc., falsely promoted his “Buckets of Money” strategy as extensively tested on historical data.

Although Lucia...
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