The Securities and Exchange Commission’s Los Angeles district office has obtained an emergency court order halting all operations and freezing the assets of a company it says has been “creating the illusion” for seven years that it was taking investors’ money and investing it in life settlements.

Instead, SEC attorneys claim in their complaint in federal court, the company, Christian Stanley, Inc., was allegedly used by the founder, Daniel C.S. Powell, 29, to finance “stays at luxury hotels, visits to nightclubs and restaurants,” and for “purchase of high-end vehicles.”

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