James Poe of Ft. Worth Sanctioned for Sale of Life Settlements

James Poe of Ft. Worth Sanctioned for Sale of Life Settlements

James Poe of Ft. Worth Sanctioned for Sale of Life Settlements 150 150 Robert Rex, Esq.

March 21, 2016- Austin, Texas

The Texas State Securities Board (TSSB) entered an order revoking the registration of Fort Worth investment adviser James Poe as well as his company, James Poe & Associates,  for engaging in fraudulent practices and selling securities without being properly licensed.

According to the TSSB, from 2011-2015, Poe sold life settlement contracts promising investors a 75% return. Life settlements are complex investments in which the investor receives an interest in the death benefits of a third party.

Poe and his related company International Alternatives collected huge commissions on the sales of the life settlements but did not disclose fully to investors the amount of commissions they were earning.

Poe was reprimanded, his registration as an investment adviser was revoked and he was ordered to cease and desist from engaging in fraudulent business practices.

Dave Lieber of The DallasNews.com Watchdog Column reports that notwithstanding the TSSB sanctions,  James Poe is still running his hour long show “Found Money Radio” on KRLD (1080am) and WBAP (820AM). Lieber spoke to TSSB spokesperson Bob Elder, who made the following comment about Poe:

“First, he is not registered, so he can’t act as an investment adviser representative or steer people to a registered firm and receive compensation for it.

“Regardless of whether James Poe chooses to notify his listeners on his radio commercial that he has had his registration revoked, anyone considering hiring any investment adviser, dealer or agent should check to see if the person is registered with the Texas State Securities Board.”

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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