Sure beats jail time

San Diegan banned from securities business for five years

The Securities and Exchange Commission yesterday (July 31) announced an agreement by which Jason D. Huntley of San Diego will be banned from the securities business for five years. Huntley agreed to the judgment without admitting or denying the agency's findings.

According to an SEC announcement, from 2001 to 2011, Huntley was president of a Colorado Springs investment advisory firm that dissolved in 2011. Huntley put his clients in a real-estate lending fund but didn't tell those clients that the fund had financed a personal real-estate venture for him. The value of the fund plunged 80 percent. He had obtained a loan of more than $2 million from the fund.

In addition, Huntley recommended that his clients approve a transaction involving another fund without disclosing that he would receive compensation as a result of the transaction; and, Huntley bought stock in client accounts without advising those clients that he would receive compensation, according to the SEC.

In 2013, Huntley was sued for selling an allegedly extravagant $25 million life-insurance policy to former Padres star pitcher Heath Bell. Bell said in the suit that he was referred to Huntley by William (Billy) Crafton Jr., a San Diegan who has gotten in trouble for putting athletes in a Ponzi scheme and has gone bankrupt. Bell's initial payment on the policy would be $848,000 and his annual payments $170,000. According to the suit, over Bell's expected lifetime, his premiums would total $10 million.

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Lucky scumbag. Must have friends in lofty places. Have you ever heard that people's names influence who they become?

shirleyberan: I don't know that he has friends in very high places, but he is on the board of governors of the John Jay Institute, a conservative Christian civic leadership organization. Best, Don Bauder

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