Wall Street bail out

We have a copy of the draft bill which seeks to save the US and world financial system from a complete meltdown.
The document is over 100 pages and is currently being debated as we speak. Some believe that there should be no bail out of wall street without a bail out of main street.
There are [...]

Forex to Ponzi Part 4

Like many FOREX Schemes today, FOMAC was international. Roberts spread his wings to Costa Rica where he became a naturalised citizen and open operations there. In Costa Rica he operated under the company ?Three Amreicas Consutlants???.
There he partnered with a Costa Rican citizen. The scam brought in about 500 persons with over [...]

The Story of Financial Plus Investments

In a story all to family, hundreds of people invested their life savings in a company that offered “big returns”. The result is they stood to lose it all as the company, Financial Plus Investments, seemingly disappeared.
The investors in this scheme wasted no time and reported the matter to the local authorities and the FBI. [...]

Lou Pearlman and his 20+ year Ponzi explored (pt 2.)

In Part 2 of Lou Pearlman and his 20+ year Ponzi explored, we explore who Lou Pearlman conned and more of the methods used. 
Who was conned?
During the period, even the established financial institutions were  conned. Banks conned into loaning money or providing a lines of credit to the Lou Pearlman or one of his entities included,

Bank of America
Washington Mutual 
Mercantile Bank
Integra Bank [...]

Lou Pearlman and his 20+ year Ponzi explored

A few weeks ago we showcased the story about Lou Pearlman, the mastermind behind a long running PONZI.  How exactly did this PONZI work? The  court documents along with news reports reveal many interesting facts and twists. 
In 1981, Lou Pearlman conceived an idea and built it around two companies Transcontinental Airlines Travel Services sand Transcontinental Airlines, [...]

Avoid Scams in online social networks

The British Columbia(BC) Fincancial Services Commision has developed a series of videos as part of their investor education Program. They hope that through education they can  to help BC investors avoid investment scams and make informed investment decisions. Here is one such video

For more excellent videos visit http://www.youtube.com/user/BCSCInvestRight
To visit their website http://www.investright.org/

Lou Pearlman and the 20 year Old Ponzi Scheme

“Lou Pearlman, the gregarious mastermind behind boy bands such as ‘N Sync and the Backstreet Boys, is now admitting his role in a different kind of choreography: a Ponzi scheme.”  This is an interesting story of a scam(ponzi) that lasted well over 20 years until it finally came tumbling down.
Read the full story on Fox: [...]

Forex to Ponzi Part 2

Roberts claimed that the returns from Forex Trading was good. The interest paid to “investors” ranged between 4% to a high of 10%. In the USA, he even shared with them the historical data to prove it. Investors were asked to send money overseas to an investment account in Costa Rica, where he also had operations, [...]