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Rich and Co.

Oops – “An adviser and host of a radio show called “Financial Myth Busting” has been busted by the Securities and Exchange Commission for allegedly inflating her firm’s assets under management by as much as five times the actual amount and exaggerating investment returns.”

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The SEC said that Dawn J. Bennett, founder of Bennett Group Financial Services in Washington, claimed to have more than $2 billion in assets, but the most that Bennett Group ever managed was $407 million.Ms. Bennett, 53, also allegedly touted the firm’s highly profitable investment returns and said that those returns put Bennett Group in the “top 1%” of firms in the world, the SEC said. But those purported returns were taken from a model portfolio and not representative of any actual customer returns, according to the SEC’s complaint.

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Written by Rich and Co.

September 10, 2015 at 3:12 pm

Posted in Uncategorized

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