WBZ Weekend Host Accused Of Misleading Investors
May 5, 2015 at 6:11 PM (PT)
A weekend brokered show host on CBS RADIO News WBZ-A/BOSTON has been accused in a lawsuit by the MASSACHUSETTS Secretary of State Enforcement Section and Securities Division with misleading investors into putting their money into risky investments, reports the BOSTON BUSINESS JOURNAL.
CHARLES (CHUCK) NILOSEK, co-host of the SUNDAY night "LIFE IS GREAT! NEW ENGLAND" show, and his company POSITION BENEFITS, LLC are accused of promising investors up to 12% returns with no risk, and made the claims on WBZ and other radio stations and online. The state also claims that NILOSEK also did not register as an investment adviser or representative as required by law.
The suit seeks a fine against NILOSEK and disgorgement of the over $670,000 in commissions and fees earned by NILOSEK and his company from the investments.