He believed the earth’s gravitational forces impacts stock prices and that, under the influence of the moon, people tend to feel more dejected and sell off securities, according to the SEC.
And, in return the commission, charged Gurudeo “Buddy” Persaud, a former registered rep with Money Concepts in Palm Beach Gardens, Fla., with fraud. The commission accused Persaud of raising $1 million from 14 investors in a Ponzi scheme based on his astrological theories.
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