Frishberg off the air in Houston!

[Chuck Gallagher]

Has Salem Communications figure it out...that someone convicted by the SEC for investment fraud isn't a good on air personality or are there other reasons Frishberg is off the air?


http://chuckgallagher.wordpress.com/2011/05/16/has-salem-communications-finally-figured-it-out-dan-frishberg-the-money-man-off-the-air/

Perhaps there's more to this story...comments?

 

[dfwrunner]

Has Salem Communications figure it out...that someone convicted by the SEC for investment fraud isn't a good on air personality or are there other reasons Frishberg is off the air?


http://chuckgallagher.wordpress.com/2011/05/16/has-salem-communications-finally-figured-it-out-dan-frishberg-the-money-man-off-the-air/

Perhaps there's more to this story...comments?

OMG OMG OMG OMG OMG OMG

 

[Chuck Gallagher]

Filed today by the SEC

The Commission’s complaint in the civil action alleged that, in connection with two separate promissory note offerings to DFFS clients, Frishberg violated Section 206(2) by approving unsuitable investments for recommendation to his advisory clients. In addition, the complaint alleged that Frishberg aided and abetted the Section 206(1) and 206(2) violations committed by Albert Fase Kaleta and by DFFS. Frishberg approved investments despite conflicts of interest between himself and DFFS on the one hand and the advisory clients on the other. In particular, Frishberg controlled the company that issued the promissory notes. Moreover, the issuer’s poor financial condition made it unlikely that it could pay its promissory-note obligations. Frishberg knew such conflicts had not been disclosed to clients or recklessly disregarded whether such conflicts had been disclosed to clients.

http://chuckgallagher.wordpress.com/2011/05/16/sec-issues-daniel-frishberg-order-will-dan-frishberg-continue-his-investment-advice-now/

Question is when the SEC say "hereby is barred from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent" - does that have any impact of his ability to share investment advice via the radio?