Daniel Frishberg: Houston's "MoneyMan" Settles With SEC
Breaking news: There is something called "BizRadio" in Houston, as far as we can tell on 1110 AM, and its big personality is Daniel "The MoneyMan" Frishberg.
More breaking news: Frishberg has just settled a complaint from the SEC and will be reimbursing investors $65,000 for money invested in the BizRadio network.
In court documents, the SEC said Frishberg advised clients of Daniel Frishberg Financial Services to invest in BizRadio, promising great rewards.
Frishberg somehow didn't tell clients, the SEC says, of BizRadio's "poor financial condition and the conflicts of interest presented by Frishberg serving as CEO of both DFFS and BizRadio."
Frishberg did not admit or deny the allegations as part of the settlement, which was released Friday.
We'd tune in to see if he mentions it on his radio show, but we're still not convinced it exists.