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Financial Advisory Consultants Company

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BUSINESS
January 18, 2004 | E. Scott Reckard, Times Staff Writer
Deep down, Michael O'Hara knew the huge profits at Financial Advisory Consultants Inc. "were just too good to be true." So when his 70th birthday rolled around in 2000, and he had to start drawing down his individual retirement accounts, he hedged his bets by taking out more money than required by law. O'Hara, a prosperous insurance agent from Placentia, regarded the $106,000 he had deposited in the 1990s in an FAC investment fund as "Vegas money."
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BUSINESS
January 25, 2005 | Kathy M. Kristof
About 400 people who invested with jailed Orange County money manager James P. Lewis will be asked to give up their profits, according to a report released Monday. The report by Robb Evans & Associates, which is the court-appointed receiver of Lewis' business, said the 400 people gained more than they lost by investing with Lewis. Authorities say thousands of other investors, however, lost money with Lewis and his company, Financial Advisory Consultants. Lewis was charged in U.S.
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BUSINESS
January 10, 2004 | E. Scott Reckard, Times Staff Writer
A federal receiver on Friday took control of Financial Advisory Consultants, the Orange County investment firm whose owner, James P. Lewis Jr., is accused in a Securities and Exchange Commission lawsuit of defrauding thousands of investors who are owed $813.9 million.
BUSINESS
January 18, 2004 | E. Scott Reckard, Times Staff Writer
Deep down, Michael O'Hara knew the huge profits at Financial Advisory Consultants Inc. "were just too good to be true." So when his 70th birthday rolled around in 2000, and he had to start drawing down his individual retirement accounts, he hedged his bets by taking out more money than required by law. O'Hara, a prosperous insurance agent from Placentia, regarded the $106,000 he had deposited in the 1990s in an FAC investment fund as "Vegas money."
BUSINESS
January 25, 2005 | Kathy M. Kristof
About 400 people who invested with jailed Orange County money manager James P. Lewis will be asked to give up their profits, according to a report released Monday. The report by Robb Evans & Associates, which is the court-appointed receiver of Lewis' business, said the 400 people gained more than they lost by investing with Lewis. Authorities say thousands of other investors, however, lost money with Lewis and his company, Financial Advisory Consultants. Lewis was charged in U.S.
BUSINESS
December 27, 2003 | From Associated Press
James P. Lewis Jr. is hiring a team of professionals to defend against accusations that his Financial Advisory Consultants was an $813-million Ponzi scheme defrauding 5,200 investors across the nation, his attorney said. Lewis, 57, of Laguna Niguel, isn't commenting on allegations in an FBI affidavit and Securities and Exchange Commission complaint, attorney Douglas J. Pettibone said, adding that Lewis "does look forward to the day when he can tell his side of the story on this."
BUSINESS
December 24, 2003 | Jonathan Peterson, Times Staff Writer
The Securities and Exchange Commission charged Orange County investment manager James P. Lewis Jr. with fraud Tuesday, alleging he falsely told clients who were trying to withdraw money that their accounts had been frozen by the Department of Homeland Security. Securities regulators said the alleged fraud involved two funds managed by Lewis' Financial Advisory Consultants.
BUSINESS
December 28, 2003 | From Times Staff
Disease May Spoil State's Dairy and Meat Profits The discovery of a single case of "mad cow" disease in Washington has upended much of California's beef and dairy industries. Until a fuller picture emerges of how the cow developed the disease, meatpackers in California said, they were wary of buying much in the way of supplies, and middlemen were holding off cutting deals with cattle farmers because they didn't want to be stuck with a bunch of beef they couldn't move.
BUSINESS
January 10, 2004 | E. Scott Reckard, Times Staff Writer
A federal receiver on Friday took control of Financial Advisory Consultants, the Orange County investment firm whose owner, James P. Lewis Jr., is accused in a Securities and Exchange Commission lawsuit of defrauding thousands of investors who are owed $813.9 million.
BUSINESS
December 27, 2003 | From Associated Press
James P. Lewis Jr. is hiring a team of professionals to defend against accusations that his Financial Advisory Consultants was an $813-million Ponzi scheme defrauding 5,200 investors across the nation, his attorney said. Lewis, 57, of Laguna Niguel, isn't commenting on allegations in an FBI affidavit and Securities and Exchange Commission complaint, attorney Douglas J. Pettibone said, adding that Lewis "does look forward to the day when he can tell his side of the story on this."
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