Ray Lucia Sr., a radio personality and author, has been charged by the Securities and Exchange Commission for allegedly misleading investors about his “Buckets of Money” investment strategy. Lucia has been accused of using his Raymond J. Lucia Companies Inc. (RJL) to promote the allegedly unproven investment strategy and attempt to make money on fees charged to clients. The investment strategy and seminars were promoted online and through Lucia’s radio show.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
According to the SEC, “Buckets of Money” was promoted though a series of investment seminars and claimed to have been rigorously backtested. The seminars were largely aimed at retirees and pre-retirees, promising a “proven” investment strategy that would help increase retirement savings and provide a steady income. The SEC alleges that the investment strategy was not “tested” or “proven” as described and that the seminars misled investors.
The regional director of the SEC’s Los Angeles regional office stated that “Lucia and RJL left their seminar attendees with a false sense of comfort about the Buckets of Money strategy. The so-called backtests weren’t really backtests, and the strategy wasn’t proven as they claimed.”
Recovering Losses Caused by Investment Misconduct.