SEC Sues Retirement Planners for Making False Claims to Investors

The SEC charged a self-described retirement planning firm and its principals with falsely telling customers that interests in life settlements that they offered and sold were "guaranteed," as "safe as CDs," and "federally insured."

The SEC also alleged that the retirement planning firm used a "bogus net worth calculator" that improperly qualified some prospective investors for purchases by including income that investors had not received.

See: SEC Complaint; SEC Press Release.