June 1, 2015-Dallas/Ft. Worth, Texas
Rex Securities Law is investigating Novers Financial, Christopher A Novinger and Brady J. Speers, of Mansfield, Texas, in connection with the sale of life settlements.
The Securities and Exchange Commission recently filed an action naming Novers Financial and its principals, Christopher Novinger and Brady Speers alleging that the investments were guaranteed and offered safety similar to CDs. Novinger and Speers operated a financial radio show touting the investments to the public.
“We allege that Novinger and Speers described speculative investments as safe and secure and were willing to manipulate investors’ financial information to make a sale,” said David Peavler, Associate Director of the SEC’s Fort Worth Regional Office. “No matter what a salesperson tells you, interests in life settlements are never guaranteed, risk-free, or federally insured.”
In addition to the charges against Novers Financial and the two principals, the SEC charged ICAN Investment Group LLC and Speers Financial Group LLC for acting as unregistered broker-dealers. The SEC seeks injunctive relief, return of allegedly ill-gotten gains with interest, and financial penalties.
If you have information related to this investigation, we would appreciate hearing from you.
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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