Raymond Lucia Sr.
  • Raymond Lucia Sr.
  • Image by Wikipedia
  • Story alerts
  • Letter to Editor
  • Pin it

In September of 2012, the Securities and Exchange Commission charged that nationally syndicated radio personality Raymond Lucia Sr. was spreading misleading information to potential investors at seminars.

Lucia had told participants that his "Buckets of Money" strategy had been empirically backtested, or evaluated how it would have done under past conditions. But they weren't authentic backtests, said the SEC.

On July 8 of last year, Lucia was banned from the investment business and fined. In 2010, he had sold his main company to his son, Raymond Lucia Jr. Annual audits filed with the SEC show the firm is prospering despite the negative press.

For the year ended 2012, Lucia Securities LLC lost $540,641 on commission income of $13.6 million. But in 2013, the firm's net income zoomed to $3.1 million on commission income of $15.6 million.

Raymond Lucia Sr. has filed for a review of the SEC decision, and it is now under review.

  • Story alerts
  • Letter to Editor
  • Pin it

Sponsor Partners

More from SDReader

Comments

shirleyberan June 8, 2014 @ 11:43 a.m.

Coulda used more empirical evidence. Don - I bet you figure "buckets of money" is the tip-off. They should quit while they're ahead.

0

Don Bauder June 8, 2014 @ 4:06 p.m.

shirleyberan: I agree that regulators should carefully monitor the activities of radio investment pitchmen. In most cases, they pay the station to get on the air. Best, Don Bauder

1

ImJustABill June 8, 2014 @ 9:55 p.m.

I kinda wondered how that worked. Many of the weekend shows on 600 KOGO initially seem like advice shows until you start listening for a while and realize they're really all basically informercials.

0

Don Bauder June 9, 2014 @ 7:20 a.m.

ImJustABill: Yes, to a large degree they are essentially informercials. Best, Don Bauder

0

shirleyberan June 8, 2014 @ 6:16 p.m.

Then if this guy likes radio, can he stay on?

0

Don Bauder June 8, 2014 @ 8:50 p.m.

shirleyberan: To my knowledge, he is still on radio. He has been banned from association with anybody in the securities business. The SEC can't tell him to go off the air. Best, Don Bauder

0

Ken Harrison June 9, 2014 @ 7:11 p.m.

Is his daughter still married to Ryan Leaf?

0

Don Bauder June 9, 2014 @ 9:30 p.m.

Ken Harrison: No, they divorced some time ago. Best, Don Bauder

0

Sign in to comment

Join our
newsletter list

Enter to win $25 at Broken Yolk Cafe

Each newsletter subscription
means another chance to win!

Close