Monday, February 16, 2009

Wealth Pools Fined 440K


"Wealth Pools has been fined $440,000 by the New Brunswick Securities Commission, the largest individual penalty ever levied.

The Securities Commission ruled that Robert E. Lane, the president of the Orlando, Florida based Wealth Pools, must pay $160,000 in administrative penalties plus $2000 in associated costs.

According to the Executive Director of the Securities Commission, "The penalty reflects the seriousness of the offence and the magnitude of harm done to New Brunswick investors". " : Source Link

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