{"id":926,"date":"2011-08-09T17:09:48","date_gmt":"2011-08-09T17:09:48","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/08\/texas_securities_fraud_insuran"},"modified":"2022-03-09T16:07:17","modified_gmt":"2022-03-09T22:07:17","slug":"texas-securities-fraud-insuran","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-fraud-insuran\/","title":{"rendered":"Texas Securities Fraud: Insurance Agent Could Get 100 Years Behind Bars for Using Fraudulent Annuities to Bilk Elderly Seniors of Over $5M"},"content":{"rendered":"

\t\t\t\tA 76-year-old Amarillo insurance agent has pleaded guilty to 15 counts of Texas securities fraud<\/a> over the sale of bogus investments and unregistered securities that resulted in over $5 million in losses for primarily elderly investors. The Texas State Securities Board won’t sentence John F. Langford until next month, but he faces up to 100 years in prison for running this Ponzi scam<\/a>. <\/p>\n

Meantime, Langford’s business partner, Jimmy Don King, has been indicted on 10 criminal counts, including selling securities despite not having a license, selling unregistered securities, and acting as an agent\/dealer but without the appropriate registration. King was the voice and face of Langford & Associates’ commercials on TV and commercials guaranteeing “not to make you poor.” (Langford also did business as Langford Funding and Langford Investments.)<\/p>\n

The two men came under suspicion after an elderly woman sued them for securities fraud. She said that they persuaded her to invest $941,756 in private annuities. Later, a court found that the woman who suffered from dementia had been incompetent and therefore wasn’t fit to make a decision about whether investing in bogus annuities that weren’t going to be due until her 90’s-a decade from when she signed on-was a good decision to make.<\/p>\n

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

A 76-year-old Amarillo insurance agent has pleaded guilty to 15 counts of Texas securities fraud over the sale of bogus investments and unregistered securities that resulted in over $5 million in losses for primarily elderly investors. The Texas State Securities Board won’t sentence John F. Langford until next month, but he faces up to 100 […]<\/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":[3792,3803,3750],"tags":[],"class_list":["post-926","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-senior-investors","category-texas-securities-fraud"],"yoast_head":"\nTexas Securities Fraud: Insurance Agent Could Get 100 Years Behind Bars for Using Fraudulent Annuities to Bilk Elderly Seniors of Over $5M — Investor Lawyers Blog — August 9, 2011<\/title>\n<meta name=\"description\" content=\"A 76-year-old Amarillo insurance agent has pleaded guilty to 15 counts of Texas securities fraud over the sale of bogus investments and unregistered — August 9, 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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