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SEC Sues Radio Host Lucia
Over Trading Program Claims

Sept. 6, 2012, 4:00 AM

The Securities and Exchange Commission filed an administrative action Sept. 5 against a nationally syndicated radio personality and financial advice author, alleging that he misrepresented the supposed historic performance of his “Buckets of Money” strategy at various investment seminars (In re Lucia).

Specifically, the SEC alleged that Raymond Lucia Sr. and his company, formerly named Raymond J. Lucia Companies Inc. but whose current name is not stated, claimed that his program had been “backtested” using historical market data corresponding to bear markets and was proven successful, particularly for the needs of older investors.

The commission, however, said that ...