{"id":3610,"date":"2016-03-22T14:30:11","date_gmt":"2016-03-22T14:30:11","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2016\/03\/texas_adviser_barred_by_state"},"modified":"2016-03-22T14:30:11","modified_gmt":"2016-03-22T14:30:11","slug":"texas-adviser-barred-by-state","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-adviser-barred-by-state\/","title":{"rendered":"Texas Adviser Barred by State Over Fraudulent Life Settlement Sales"},"content":{"rendered":"

\t\t\t\tFort Worth-based investment adviser James Poe has been barred by the Texas State Securities Board from serving as a financial representative or broker in the state. According to the Board, Poe engaged in fraudulent sales practices involving life settlements.This is Texas securities fraud<\/a>. <\/p>\n

The Texas adviser, who is the president of Jim Poe & Associates, Inc., was the recipient of undisclosed payments through International Alternatives PR, which he also owns. The state says that firm consulted on life insurance policy selections and represented activity that was fraudulent.<\/p>\n

Poe is also accused of getting paid 10% commission for product sales from ’11 to ’15 even though he was an unregistered agent at the firm. Such payments would be a violation of Texas law. During that period he purportedly recommended investments to certain individuals, who were promised a 75% return. What these investors didn’t know is that in addition to paying for the policy and its premiums, the “associated costs” they agreed to take on included the 10% commission to Poe and undisclosed payments (20% of what they invested) to International Alternatives PR, which consulted and identified which policies to choose. <\/p>\n

The Texas State Securities Board’s order said that failure to disclose that 20% of what investors paid went to the firm, which Poe owned, was a failure by the firm to disclose material facts and that this type of activity was fraudulent. The state said that seeing as 30% of investor money went to Poe and his company, this posed a material risk to what an investor could potentially make.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fort Worth-based investment adviser James Poe has been barred by the Texas State Securities Board from serving as a financial representative or broker in the state. According to the Board, Poe engaged in fraudulent sales practices involving life settlements.This is Texas securities fraud. The Texas adviser, who is the president of Jim Poe & Associates, […]<\/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-3610","post","type-post","status-publish","format-standard","hentry","category-life-settlements","category-texas-securities-fraud"],"yoast_head":"\nTexas Adviser Barred by State Over Fraudulent Life Settlement Sales — Investor Lawyers Blog — March 22, 2016<\/title>\n<meta name=\"description\" content=\"Fort Worth-based investment adviser James Poe has been barred by the Texas State Securities Board from serving as a financial representative or broker in — March 22, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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