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Florida Man Pleads Guilty To $1 Billion Ponzi Scheme

Thursday, October 21, 2010 - 7:41 AM
From Clark Howard's October 20th Show Notes:
A Florida man supposedly involved in wholesale grocery distribution has pleaded guilty to running a nearly $1 billion Ponzi scheme.
His "investors" didn't do any real checking into his supposed business. They didn't look at the financials. And they definitely didn't visit the imaginary warehouses that stored his groceries! He just had an aura of success and people wanted to be a part of it.

This is a useful bit of advice for those looking for high yields in non traditional areas.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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