The Arizona Corporation Commission has sanctioned a Tucson insurance producer, Ronald Eugene Krause, and his affiliated company, Senior Forethought, LLC, for offering an unregistered investment while not registered as securities salesman or dealer.
According to the Arizona Corporation Commission, Krause is ordered to pay a $500 administrative penalty to the state of Arizona.
The Commission found that Krause placed an online and print advertisement seeking Christian investors for a “low risk” investment, offering a “high yield” return of 83 percent within one year. Krause told potential investors each investment of $35,000 or more would fund his mail-based insurance company that would sell policies to ensure the coverage of funeral costs and other final expenses after the insured’s death.
Ultimately, Krause did not make any known sales from his investment promotion activity.
Be the first to comment