Integrated Wealth Systems: Charged with the Allegations of SEC, but why? (2023 Update)
Self-described financial expert and scam Integrated Wealth Systems owner Loral Langemeier.
When she and her company Live Out Loud Inc (LOL) sold stocks in unregistered oil and gas offerings, the SEC filed charges against them.
They have also been accused by the SEC of violating their fiduciary obligations and functioning as unregistered stock brokers.
Loral Langemeier owner of Integrated Wealth Systems has financial conflicts of interest with the goods by Live Out Loud was also not disclosed.
On June 15, 2022, the Securities and Exchange Commission filed charges against her. Furthermore, it submitted the complaint to the Reno, Nevada, district court of the United States.
According to the SEC’s lawsuit, from 2016 to 2018, Loral Langemeier, the owner of Integrated Wealth Systems advertised herself as a financial expert.
She acquired a large number of clients through Live Out Loud, many of whom were retirees and independent business owners.
They paid her up to $30,000 in fees in exchange for her supposedly impartial financial counsel. Many of them, it seems, had been persuaded by Loral to sell up their conservative assets and shift the money to independent IRAs.
Also, Loral Langemeier, the owner of Integrated Wealth Systems advised them to buy stocks in Resolute Capital Partners Ltd., LLC’s unregistered oil and gas securities products.
Additional information about the owner of Integrated Wealth Systems Loral Langemeier’s SEC complaint:
In addition, they distributed Homebound Resources, LLC’s unregistered investment goods. Prior SEC enforcement action was taken against each one of those firms.
In essence, the owner of Integrated Wealth Systems Loral was utilizing Live Out Loud to promote the dangerous and unregistered investment products of two dubious companies.
In addition, the SEC complaint claims that Loral got concealed remuneration of hundreds of thousands of dollars for selling these goods. These funds were given as fees.
She also concealed the fact that she owned ownership holdings in a few of the product issuers.
By failing to disclose the aforementioned conflicts of interest, the investment advisor the owner of Integrated Wealth Systems allegedly violated her fiduciary duties.
The Securities and Exchange Commission (SEC) has accused Loral of breaking sections –
- Sections 5(a)
- Sections 5(c) of the Securities Act of 1933
- Section 15(a) of the Securities Exchange Act of 1934
The History of Running Scams by the owner of Integrated Wealth Systems
Through seminars, social media, and online media talks, Langemeier built a powerful marketing engine.
The heading of her primary website, liveoutloud.com (LOL), reads, “How to Finally Stop Worrying About Money and Turn Things Around in 2010!”
You must spend $8,995 at Live Out Loud in order to meet Loral in person. It’s undoubtedly sizable money. Not only that, though.
Who is accountable to the SEC?
Public corporations, specific corporate insiders, and broker-dealers are required by the Securities and Exchange Commission (SEC) to produce quarterly financial statements and other disclosures. SEC filings are a valuable resource for financial experts and investors who are deciding whether to invest in a firm.
Visiting other seminars will set you back at least $1,495. Loral once pledged to “Keep you in cash!” on her website.
According to her YouTube video, she “went on learning forms the cornerstone of your wealth cycle, engaged with ongoing suggestions for direct asset selection.”
To keep the audience engaged while she grabs for their wallets, the owner of Integrated Wealth Systems uses odd methods to talk about money. In order to appear knowledgeable, she uses jargon and filler.
People that desire money, a better life, and more family time visit Langemeier’s website liveoutloud.com, and other websites that feature her work.
These websites only serve as portals into a mysterious, complex world of deception.
When Loral Langemeier meets with prospective predators, she engages in a hazardous confidence game.
She urged them to pursue their goals and make investments in the company’s ideas she claimed to have researched.
When Langemeier meets with possible victims, she engages in a hazardous trust game. Following that, Loral attempted to disappear with her portion of the initial loan.
The SEC, thankfully, stepped up.
She mostly addressed older folks, who are particularly at risk from these sorts of frantic displays.
In addition, a lot of her victims are retired and have limited incomes, therefore they frequently require assistance in selecting assets.
Items that Loral Advertised at Her Events:
It Group The Entrust
Loral advises her pupils to put more money into independent IRAs. They are somewhat liquid.
This makes it simple for the investors to put their cash in one of her many company opportunities.
Jerry Pearson, the Entrust Group’s owner, collaborates with Loral on several projects.
He has also gotten a large sum of money through Crumbs R Us, a real estate project of Loral and Jerry, as well as the self-directed IRA company.
In LOL meetings, Loral pushed this company. The Entrust Group also acquired a great deal of private data on prospective victims as a result of her in-depth inquiry.
Venture in Real Estate (Trinity)
From September 14 to September 16, 2005, Loral solicited attendees of a Big Table event to invest money in a business called “Trinity.”
It’s an investment in real estate.
One of the victims revealed that he first put $200,000 into the business before adding another $50,000 in the expectation of seeing a 17 percent return.
Loral Langemeier stepped in after allegations of fraud by promising to pay back the investment within seven years in order to save her company’s cash stream.
She later extended the payback time by ten years as a result of missing quarterly payments.
An enormous failure: Cafe Z
Investors introduced themselves as having met Loral Langemeier at a Gorilla Business School function.
The owner of Integrated Wealth Systems Loral discussed many commercial potentials there. Of them was Cafe Z.
The investors claim in their written statements that one of them put more than $250,000 into Cafe Z.
But eventually, the café closed down since the owner didn’t run it effectively. The Cambridge License Commission highlighted a number of infractions, such as failing to reimburse an insurance claim made by a worker, not responding to noise concerns, and keeping the same manager.
Be aware that the owner of Integrated Wealth SystemsLoral and Cafe Z owner David Zebny raised millions for the project.
Many investors withdrew their money as a result of Cafe Z’s abrupt demise.
The venture’s accounting records, however, were never looked at by the owner of Integrated Wealth Systems Loral and David. As a result, nobody was able to track where the money went.
The many victim’s tors’ pleas were repeatedly ignored by Live Out Loud and Loral Langemeier.
2009 saw David declare bankruptcy. As a result, nothing was given to the shareholders in exchange for their large sums.
Who is Loral Langemeier?
I’ve already described how Loral operates her frauds. I’ll talk about how she displays herself in this part.
She is a skilled marketer after all, and she has convinced individuals to put hundreds of thousands of dollars into her suggestions despite their veracity.
She describes herself as a speaker in high demand and a money guru. Additionally, Loral asserts to be a five-time bestseller who is just motivated by the desire to see more people achieve million-dollar status.
Put More Cash in Your Pocket, The Millionaire Maker, The Millionaire Maker’s Guide to Creating a Cash Machine for Life, The Millionaire Maker’s Guide to Wealth Cycle Investing, and YES! Energies are books written by the owner of Integrated Wealth Systems.
Among her coaching initiatives are:
- The table’s head
- Loral’s Large Table
- Millionaire Training
- 100k Obstacle
- Coaching for Fast Cash
Live Out Loud is no longer being produced by Loral after being accused of fraud.
She is presently the owner of Integrated Wealth Systems.
When dealing with such doubtful economic influences, you should use the utmost caution. It is evident that Loral will continue to promote Integrated Wealth Systems and divert potential investors’ attention toward the allegations the SEC has brought against her.
You risk losing your hard-earned savings if you trust her. Financial con artists frequently use distraction techniques to keep victims from discovering the ghosts hiding in their personal closets.
Another influential person in finance, Justin Goodbread, was forced to pay $400,000 for misleading a customer. Clearly, Loral is a far larger con artist than Justin. so wary of her!
One another investment fraud
FPS, also known as First Payment Options, was a business that made it possible for firms with foreign workforces to use credit card payments to pay their staff members in their native currencies.
Loral had actively pushed it at her events, much like all the other endeavors I’ve mentioned before.
One victim said that he had given this company $50,000 upfront and then another $5,000 subsequently. First Payment Solutions abruptly and overnight disappeared from the market. He was one of many investors who lost their tough-earned funds in this fraudulent company.
It had been marketed by the owner of Integrated Wealth Systems Loral Langemeier as the upcoming big thing.
The Bottom Line
The previously mentioned arguments make it clear that Loral Langemeier is basically a con artist. She demands thousands of dollars from attendees of her events. There, she encourages certain investments that may be illegal.
The SEC intervened recently and accused her of fraud and breach of fiduciary responsibility. It serves as evidence that Loral has long marketed unlicensed assets.
She allegedly received unreported fees on her marketed securities, according to the SEC.
All of this indicates that you should steer clear of Loral and her goods completely.