7-9-2013
Bloomberg reports that syndicated financial talker Ray Lucia was ordered to pay $50,000 for giving investors misleading information about his ?Buckets of Money? wealth-management strategy. A judge also ordered Lucia?s firm to pay $250,000 and revoked its investment adviser registration. Lucia falsely claimed his strategy to provide inflation-adjusted income to retirees had been empirically back-tested during bear markets. The judge also barred Lucia from associating with any investment adviser or broker. Lucia is listed as syndicated by Business Talk Radio.
