Slowlane guru tweaks SEC's interest....

[MJ DeMarco]

SEC accuses radio personality Ray Lucia of misleading investors - latimes.com

His seminars are free and used to find new clients who would be charged fees for his investment advice, the SEC said. During the seminars, Lucia is accused of showing misleading slides that indicate investors who set aside $1 million in 1973 would have generated $60,000 in income each year until 1994 while their nest egg grew to more than $1.5 million.
The investment scenario failed to account for advisory fees and included other faulty assumptions, the SEC said. When using historically accurate inflation rates, the 1973 investor would run out of money by 1989, according to the agency.

 

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