According to the SEC‘s complaint, Online videos designed to attract investors to attend investment seminars were posted with such titles as “Finances God’s Way” or “Indestructible Wealth” which encouraged retirees to sell their existing securities holdings and invest in the created by the videos promoters.The SEC claims that the videos falsely guaranteed promising returns, and that the defendants raised more than $14 million from over 100 investors for their real estate funds.Having dealt with the SEC for decades, I know the penchant for overstatement and unique views of facts, but in this case there are allegedly videos. On the other hand, the defendants have not settled, which indicates that the SEC’s claims may not be as clear as it claims.
Source: The Securities Law Blog
