Financial Advisory Consultants, Income Fund Ltd., Growth Fund Ltd.
James P. Lewis Jr.
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Financial Advisory Consultants, Income Fund Ltd., Growth Fund Ltd.
- Industry
- Equipment leasing, insurance premium financing and distressed business funds
- How investors were recruited
- Church networks and word of mouth: first clients from the LDS community, later members of churches of many denominations who heard of it from "friends at church"
- Pitch & red flags
- Advertised returns of "more than 19% per year since its inception in 1983" (Income Fund) and "almost 39% per year since its inception in 1987" (Growth Fund); denied withdrawals to most investors.
Pitch phrases from this case
- “almost 39% per year since its inception in 1987”
- “more than 19% per year since its inception in 1983”