MD Firm Promises to Stop Claiming Insider Ties With SS

Monday, Sep 12, 2011  |  Updated 1:20 PM EDT
View Comments (
)
|
Email
|
Print
MD Firm Promises to Stop Claiming Insider Ties With SS

Getty Images

advertisement

A firm that was advertising a program to "Get Social Security No Matter What Your Age," has agreed to stop their promotions after a federal investigation.

The company Stansberry & Associates Investment Research, LLC, based in Baltimore, claimed in publications that it had insiders at the SSA.

But the SSA Office of the Inspector General came across Stansberry's ads and informed the firm that its characterization of its SSA contacts as "insiders" violated Section 1140 of the Social Security Act.

Stansberry agreed to pay a $55,000 civil monetary penalty, settling the claim. The firm, however, did not admit to any wrongdoing.

The SSA says there has been a recent increase in Section 1140 violations and they are stepping up enforcement in response.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Join the Ride to Conquer Cancer
Join the Ride To Conquer Cancer, Sept. 13... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out