Cash Plus was formally discovered to be a ponzi scheme by the Receiver that was appointed by the court. My recollection is that the Receiver said that approximately 70 % of the funds received were used to pay investors’ principal and interest. As in typical ponzi schemes there was little to no income generating activity.
Let [...]
Filed under: UFOs | Tagged: Cash Plus, Higgins Warner, May Daisy, Olint, Ponzi | 7 Comments »