SEC v. Loral L. Langemeier and Live Out Loud, Inc.

Loral L. Langemeier and her company, Live Out Loud, Inc. (LOL), allegedly sold securities in unregistered offerings, acted as unregistered brokers, and breached their fiduciary duties as investment advisers by failing to disclose financial conflicts of interest to clients, according to the SEC. From at least 2016 through 2018, Langemeier allegedly convinced many clients to liquidate relatively conservative investments, transfer their funds to self-directed IRAs, and purchase securities in risky and unregistered oil and gas securities offerings. Langemeier also allegedly received hundreds of thousands of dollars in undisclosed compensation in the form of sales commissions when her clients purchased the oil and gas securities, and she held undisclosed equity interests in certain of the issuers of the securities, according to the SEC.

Summary generated from official Securities and Exchange Commission press release