Loral Langemeier – Fake Guru Charged for Fraud by SEC (Latest Update 2023)
Loral Langemeier is a self-proclaimed finance guru and a scammer. The SEC charged her and her firm Live Out Loud Inc (LOL) for selling securities in unregistered oil and gas offerings.
Moreover, the SEC has charged them for acting as unregistered securities brokers and breaching their fiduciary duties.
Loral Langemeier Live Out Loud failed to disclose the financial conflicts of interest in the products as well.
The Securities and Exchange Commission charged her on June 15, 2022. Additionally, it filed the complaint in federal district court in Reno, Nevada.
In its complaint, SEC says that Loral Langemeier promoted herself as a financial expert from 2016 to 2018.
By using Live Out Loud, she attracted many clients which primarily consisted of retirees and small business owners.
They paid her fees upto $30,000 to get her supposedly objective financial advice. Apparently, Loral convinced many of them to liquidate their conservative investments and transfer the funds to self-directed IRAs.
Moreover, she recommended them to purchase securities in unregistered oil and gas securities products of Resolute Capital Partners Ltd, LLC.
Also, they sold the unregistered investment products of Homebound Resources, LLC.
Both of these companies have received SEC regulatory action before.
More Details on the SEC Complaint against Loral Langemeier:
Basically, Loral was using Live Out Loud to sell the unregistered and risky investment products of two shady firms.
Moreover, the SEC says Loral received hundreds of thousands of dollars as undisclosed compensation when she sold these products. These payments were in the form of commissions.
Furthermore, she failed to disclose her own equity interests in certain issuers of the products.
The SEC alleges that Loral Langemeier breached her fiduciary duty as an investment adviser by not disclosing these conflicts of interest.
In the complaint, the SEC has charged Loral with violating Sections 5(a) and 5(c) of the Securities Act of 1933, Section 15(a) of the Securities Exchange Act of 1934.
Furthermore, the complaint alleges that Loral violated Section 206(2) of the Investment Advisers Act of 1940.
It seeks injunctive relief, disgorgement, civil penalties and pre judgment interest.
Loral Langemeier’s History of Running Scams:
Langemeier made a robust marketing machine through seminars, social media, and internet media presentations.
On her main website, liveoutloud.com (LOL), it says, “How to Finally Stop Worrying About Money and Turn Things Around in 2010!”
At Live out Loud, you will have to pay $8,995 to meet Loral in person.
Certainly, it’s a huge sum. But that’s not all.
The cost of attending other seminars is at least $1,495.
On her website, Loral used to make promises to “Keep you in cash!”
In her YouTube video, she says, “…continued education are the building blocks of your Wealth Cycle, engaged with continuous ideas for direct asset allocation,”
Langemeier talks about money in strange ways to keep people interested while she reaches for their wallets.
She relies on jargon and fluff to seem like an expert.
Langemeier’s website, liveoutloud.com, and other sites that post her work, appeal to people who want money, a better life, and more time with their families.
These sites are just entrances to a world of lies that is dark and hard to understand.
Loral Langemeier plays a dangerous confidence game with potential victims when she meets with them.
She challenged them to follow their dreams and invest in the business opportunities she said she had checked out.
Loral Langemeier plays a dangerous confidence game with potential victims when she meets with them. Then, Loral took her share of the initial investment money and tried to vanish.
Luckily, the SEC caught up.
Her primary victims were elderly people who are especially vulnerable to these types of fast-paced presentations.
Furthermore, many of her victims have fixed incomes from retirement and often need help from others to choose their investments.
The Big Table Concept:
It’s obvious that most of the presentations she made focused on promoting her “Big Table” meetings.
Many people have complained that Loral and her team call them repeatedly to increase the sales of her seminar tickets, books and CDs.
The Big Table is merely a trap. To attend one Big Table meet, you will need to spend $8,995. Moreover, you will only find out that the event is to manipulate you into investing in her investments.
She was using The Big Table to promote Live Out Loud which turned out to be a scam. So, you can get an idea of how the scam worked.
One lawsuit against her alleged that Loral Langemeier was receiving undisclosed commissions from the risky and unregistered investments she promoted in her Big Table events.
Moreover, she settled the Wolf V Langemeier case in 2009. It was related to this issue as well.
Another lawsuit she faced was Susan Trindle V Loral Langemeier (Flying Emu LLC). Again, she was able to get the court to stay the case in favor of arbitration.
Loral Langemeier Big Table is A Well-Organized Manipulation Scam
Attendees of the Big Table conference had great expectations that Loral would impart specialized knowledge. They expect to learn ways to make money after paying thousands of dollars only to attend.
Bringing paying clients into a meticulously planned setup is what Loral actually accomplishes.
There, participants have to respond to a broad range of financial disclosure questions about their earnings, expenses, assets, and liabilities as well as whether or not they are ready to use her trademarked “Wealth Cycle” technique.
Certainly, the only appropriate response is a yes.
Once everyone is present, she starts working to extract as much investment capital as possible from each participant.
The process is as follows: Loral would plant interested individuals with potential victims at the tables.
Then, the plants would show a lot of interest, sparking the interest of the victims at the same time.
Investors never find out that Loral Langemeier is getting compensation for promoting those investments.
Moreover, victims allege that Langemeier accepts upfront commissions and/or ownership stakes as payment.
She makes herself seem legitimate by using the guest appearances of her friends (like Dr. Phil and T. Harv Echer).
Hence, people start trusting her speeches readily.
However, they don’t realize that the crowd has planted participants as well. They don’t realize that she is scamming them until the end.
Also, victims say that Loral Langemeier’s “Alumni” conferences are likewise highly pricey.
These are “higher-level” participation events that purport to provide the inside track on up and coming prospects inside Langemeier’s investment “Community,”
Products Loral Langemeier Promoted in Her Events:
The Entrust Group
Loral teaches her students to invest more fixed assets to self-directed IRAs. They are substantially more liquid.
This way, the investors can easily transfer their savings to her numerous business offerings.
The owner of the Entrust Group, Jerry Pearson, runs multiple ventures with Loral.
Moreover, he has received significant funds from the self-directed IRA firm as well as Crumbs R Us (a real estate venture of Loral and Jerry).
Loral promoted this firm in LOL meetings. Additionally, her extensive questioning helped the Entrust Group get a lot of confidential information about potential victims.
Real Estate Venture (Trinity)
Loral urged participants at a Big Table event that took place from September 14 to September 16, 2005, to put money into a company called “Trinity”.
It is a real estate venture.
One victim shared that he invested $200,000 and then another $50,000 in the hopes of earning the 17 percent return on investment.
Following accusations of fraud, Loral Langemeier intervened to protect her company’s revenue stream by pledging to repay the investment within seven years.
Later, she prolonged the repayment period by ten years after failing to make quarterly installments.
In June 2010, she released a notification.
It said the investors wouldn’t get more payments.
Moreover, she shared that she will keep funding Live Out Loud.
In the meantime, Loral kept her share of the victims’s funds.
A Multi-million failure: Cafe Z
A group of investors shared that they had met Loral Langemeier at a Gorilla Business School event.
There, Loral talked about multiple business opportunities. Cafe Z was one of them.
In their sworn affidavits, the investors say that one of them invested more than $250,000 into Cafe Z.
However, the cafe shut down after a while because the owner didn’t manage it properly. The Cambridge License Commission listed multiple violations including failing to compensate a woker’s insurance, receiving noise complaints, and failing to change the manager.
Note that Loral and David Zebny (owner of Cafe Z) had raised millions for the venture.
Cafe Z’s sudden failure caused many to back out of their investment.
However, Loral and David never opened the accounting books for the venture. Hence, no one was able to determine where the money went.
The numerous victims were never able to get their answers. Live Out Loud and Loral Langemeier kept ignoring the requests of the investors.
In 2009, David filed for bankruptcy. So, the investors received nothing in exchange for their millions.
Loral Langemeier’s Real Estate Scam: CRU aka Crumbs R Us
Jay Pearson, the man running the Entrust Group in the Midwest, launched Crumbs R Us. It was a real estate venture.
Many investors shared that they invested in Crumbs R Us because it claimed to offer 12% returns. Furthermore, the investment claims that it offered the secure backing of promissory notes and plenty of real estate.
Not to mention, Loral promoted CRU heavily as well.
The project claimed it will buy low-cost houses (<$100,000) and rent them for $400-$500 per month.
Later, the project said it would sell the houses at a profit after earning significant rent.
The notes became due in 2009 but by that time, Loral had traded them for undisclosed assets to Jay Pearson.
Furthermore, Jay Pearson was also the owner of Clear Zone Nursery and resided in Alexandria at the time.
Basically, Loral had determined that she no longer wanted to pay the investors. So, she sold the promissory notes to Jay.
In August 2009, Jay’s attorney issued a statement. It said Jay was trying his best to make the “small business venture “ survive in the struggling economy. Hence, he doesn’t want to make the project go bankrupt by paying the promissory notes.
Clearly, Loral knew the venture was doomed from the start.
She transferred the liability on Jay and left with her portion of the profits..
Later, she claimed that Jay used her name without her consent to promote Crumbs R Us. However, they have been partners in multiple ventures together including Market at the Greens and Clear Zone Nursery.
FPS: Another Investment Scam
FPS aka First Payment Solutions was a company which allowed employers with international employees to pay their staff in their own currency through credit cards.
Like all the ventures I have shared above, Loral had promoted it heavily in her events.
One victim shared that he invested $50,000 and later, another $5,000 into this firm.
Suddenly, First Payment Solutions vanished from the market overnight. Numerous investors like him lost their hard-earned savings on this sham venture.
Loral Langemeier had promoted it like the next big thing.
Who is Loral Langemeier “The Millionaire Maker”? What She Claims to Be
So far, I have explained how Loral runs her scams. In this section, I’ll share what she presents herself to be.
After all, she is an expert marketer and has been able to deceive people into investing hundreds of thousands into her recommendations regardless of their authenticity.
She calls herself a money expert and a sought-after speaker. Also, Loral claims to be a 5x best-selling author who only wants more people to become millionaires.
The Loral Langemeier books are: 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! Energy.
Her coaching programs include:
- Head of the Table
- Loral’s Big Table
- Millionaire Intensive
- 100k Challenge
- Fast Cash Coaching
After facing charges of fraud, Loral has stopped running Live Out Loud.
Instead, she now runs Integrated Wealth Systems.
You should be extremely cautious of such suspicious financial influencers. It’s obvious that Loral will keep promoting Integrated Wealth Systems and distract potential investors from the charges she has faced from the SEC.
Trusting her can result in you losing your hard-earned savings. It’s quite common among financial scammers to distract consumers from the skeletons present in their closet.
Justin Goodbread is another finance influencer who had to pay $400,000 for defrauding a client.
Clearly, Loral is a substantially bigger scammer than Justin. Hence, beware of her!
After going through the above points, it’s evident that Loral Langemeier is just a scammer.
She charges thousands of dollars for people to attend her events. There, she promotes specific investments which might be unregulated.
Recently, the SEC stepped in and charged her with fraud and breach of fiduciary duty. It’s proof that Loral has been promoting unregistered investments for a time.
Moreover the SEC alleged that she was earning undisclosed commissions from her promoted securities.
All of this suggests that you should stay miles away from Loral and her products.
The SEC has filed a complaint against Loral Langemeier and her company, Live Out Loud (LOL) for defrauding investors and breaching fiduciary duty. Also, the SEC says Loral earns undisclosed commissions from the unregistered investments she sells.
- Great marketer
- Charged for fraud by the SEC
- Charged for breach of fiduciary duty by SEC
- Numerous victims have lost hundreds of thousands of dollars
- Makes false promises to investors
- Promotes unregistered securities