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August 10, 2015

Two Fraud Cases Cost One Broker and His Firm $1 million

Two fraud cases have resulted in a $1 million fine and a permanent bar for the principal of Sage Advisory Group, Benjamin Lee Grant. According to the SEC, when Grant first opened Sage Advisory Group he falsely informed clients that utilizing the services of his new firm would result in lower costs and fees than those charged by his prior firm. Additionally, Mr. Grant failed to disclose that his father, an advisor serving clients with Sage Advisory Group, was permanently bared from the industry in 1988.

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