(RNS) — A complaint was filed against Mark MacArthur, son of evangelical pastor and radio host John MacArthur, alleging the younger MacArthur and his former business partner defrauded clients in a $16 million investment scheme.
The Securities and Exchange Commission on Feb. 12 charged the California-based investment advisory firm Criterion Wealth Management Insurance Services and its then co-owners Mark MacArthur and Robert Gravette with failing to reveal financial conflicts of interest when recommending certain investments to their clients between 2014 and 2017. MacArthur left the company in 2017.
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