The New Jersey Bureau of Securities, along with the Division of Law, has revoked the broker-dealer agent and investment adviser registrations of Philadelphia’s Jeffrey Dean Shrader over securities law violations related to the sale of unregistered securities that were involved in an alleged Ponzi scheme.
According to the office of the New Jersey Attorney General, Schrader sold unregistered three-year notes offered by Liberty State Benefits of Pennsylvania Inc. through a private placement memorandum that claimed the capital raised would be used to purchase life insurance policies from third parties and life insurance policy beneficial interests owned by Irrevocable Life Insurance Trusts.
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