Lucia, now 68, wowed audiences with presentations showing how his investment strategy would have protected nest eggs in the booms and busts of the 1960s and ’70s. The SEC said he used fake data to mislead investors.
In a recent interview, Lucia said the SEC found no victims and held his Buckets of Money presentation to a legal standard that didn’t exist.
"A federal judge would have thrown this out," Lucia said. "They would have said, ‘Wait a minute, where’s the proof that this person has misled someone?’”
The case is Lucia v. SEC, 17-130.
This article was provided by Bloomberg News.