Dallas Financial Radio Host Sanctioned By Texas State Securities Board
March 29, 2016 at 2:17 PM (PT)
An investment adviser who hosts a radio financial talk show airing on CUMULUS News-Talk WBAP-A and CBS RADIO News KRLD-A/DALLAS has been sanctioned by the TEXAS State Securities Board for engaging in fraudulent practices and selling securities while unregistered.
The FORT WORTH STAR-TELEGRAM reports that JAMES POE, host of "FOUND MONEY RADIO," sold risky life settlement investments through a company called SRP-LS200LLC and promised a 75% return without fully disclosing the associated costs and commissions, and his firm JIM POE AND ASSOCIATES failed to disclose excessive fees. In addition, the board said that POE sold life settlement investments in 2011-15 while he was not registered. POE's registration was revoked earlier this month, and POE agreed to the punishment and waived his right to appeal.
POE's radio show airs SATURDAYS at 10a (CT) on KRLD and SATURDAYS at 2p WBAP.