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Mansfield Retirement Planners Charged for Misleading Investors

Jun 04, 2015 06:45PM, Published by Kevin, Categories: Community, Today




The Securities and Exchange Commission (SEC) recently charged Novers Financial and its radio host owners Christopher Novinger and Brady Speers, both of Mansfield, with falsely telling customers that interests in life settlements they offered and sold were “guaranteed,” “safe as CDs,” and “federally insured.” The charges came about in May.

According to 
an article on Consumer Affairs by Truman Lewis, "The SEC also alleges that they used a bogus “net worth calculator” that improperly qualified some prospective investors for purchases by including income that investors hadn’t received, such as future pension and Social Security benefits."

The SEC’s complaint said that from 2012 to 2014, the two allegedly sold approximately $4.3 million in life settlement interests to 26 investors.

For the full scoop, click here.

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