BY RUSSELL GRANTHAM AND DAN KLEPAL - THE ATLANTA - TopicsExpress

BY RUSSELL GRANTHAM AND DAN KLEPAL - THE ATLANTA JOURNAL-CONSTITUTION Atlanta investment adviser Larry Gray has locked in lucrative revenue by urging public pensions his firm advises to sink millions into its own funds. But while making his pitch, Gray has been paying off $425,000 in federal tax liens and a $1 million settlement of a lawsuit that accused him of fraud, an Atlanta Journal-Constitution investigation has found. Gray failed to disclose those personal financial problems to federal and state regulators. In most circumstances, investment advisers are required to disclose unpaid liens and certain legal settlements. That’s so clients have a true picture of the people they rely upon for advice on investments that often amount to millions of dollars.

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