Ray Lucia Sr., a radio personality and author, has been charged by the
Securities and Exchange Commission for allegedly misleading investors
about his “Buckets of Money” investment strategy. Lucia has
been accused of using his Raymond J. Lucia Companies Inc. (RJL) to promote
the allegedly unproven investment strategy and attempt to make money on
fees charged to clients. The investment strategy and seminars were promoted
online and through Lucia’s radio show.
According to the SEC, “Buckets of Money” was promoted though
a series of investment seminars and claimed to have been rigorously backtested.
The seminars were largely aimed at retirees and pre-retirees, promising
a “proven” investment strategy that would help increase retirement
savings and provide a steady income. The SEC alleges that the investment
strategy was not “tested” or “proven” as described
and that the seminars misled investors.
The regional director of the SEC’s Los Angeles regional office stated
that “Lucia and RJL left their seminar attendees with a false sense
of comfort about the Buckets of Money strategy. The so-called backtests
weren’t really backtests, and the strategy wasn’t proven as