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Fraudulent Scheme Seeking out Christian customers

Colleen MacFarlane

According to the news media, the Securities and Exchange Commission barred a Tennessee-based financial advisor and ordained minister on Wednesday from the securities industry. Last September he was charged with defrauding several investors using a “faith-based” investment model to seek out Christian customers. 

Wright, 54, “primarily targeted Christian clients” by promoting a “faith-based” approach to investing, according to the SEC’s charges.

This week, he was barred from the securities industry and his firm, Retirement Specialty Group Inc., had its registration revoked by the commission, according to administrative orders from Wednesday.



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