{"id":1641,"date":"2015-05-11T14:47:09","date_gmt":"2015-05-11T14:47:09","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/05\/texasbased_retirement_planning"},"modified":"2022-03-22T14:10:20","modified_gmt":"2022-03-22T19:10:20","slug":"texasbased-retirement-planning","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texasbased-retirement-planning\/","title":{"rendered":"Texas-Based Retirement Planning Firm Accused of Making False Claims to Investors About Life Settlements"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission is charging Novus Financial and principals Brady J. Speers and Christopher A. Novinger with making false claims about life settlements. The regulator filed its claim in the U.S. District Court for the Northern District of Texas. <\/p>\n

According to the SEC’s complaint, from ’12 \u2013 ’14, the retirement planning firm and its principals sold about $4.3 million in life settlement interests to 26 investors. Speers and Novinger are accused of describing the investments as secure and safe. Both were purportedly willing to manipulate the financial data of investors to make the sale happen. <\/p>\n

The Commission also claims that the firm, Novinger, and Speers used a net worth calculator that was bogus. This allowed a number of prospective investors to improperly qualify to buy the interests. In one instance, the non-homestead assets of one couple were falsely inflated to $1.5 million from $263K because of the calculator. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is charging Novus Financial and principals Brady J. Speers and Christopher A. Novinger with making false claims about life settlements. The regulator filed its claim in the U.S. District Court for the Northern District of Texas. According to the SEC’s complaint, from ’12 \u2013 ’14, the retirement planning firm and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3939,3750],"tags":[],"class_list":["post-1641","post","type-post","status-publish","format-standard","hentry","category-life-settlements","category-texas-securities-fraud"],"yoast_head":"\nTexas-Based Retirement Planning Firm Accused of Making False Claims to Investors About Life Settlements — Investor Lawyers Blog — May 11, 2015<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging Novus Financial and principals Brady J. Speers and Christopher A. 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