Although, it does bring up a good point about gullibility. I imagine this investor passed on other brokers, who may not have appeared as sophisticated, but were totally legit.

I don't know which government agency is the most worthless, the S.E.C., or the FDA. The S.E.C. helps scum like Madoff and Donnelly rip off our money, and the FDA helps drug companies kill us. Wow, by the people, for the people, up the people's butt.

@shepd: Consider also the number of times that Trump has gone bankrupt an remained in business. The VAST majority of 'millionaire' businessmen don't have $1mil in available cash for major purchases.

It's all sizzle and no steak, and their total bullshit continues ot piss me off.

A couple of schemes here in TN were busted in the last 2 years. I think it is the fact that alot of people were trying to save that drew these idiots to the money. The financial laws and oversight do need updating.

In one the idiot scammed church members and anyone else then wacked himself. In the process he "dontated" some historical instruments to the Country Music Hall of Fame which was left holding the bag:

[www.countrymusichalloffame.com]

There was another schemer Barry Stokes who ripped off 401K accounts his firm was supposed to have been holding:
[en.wikipedia.org])
[www.dol.gov]

On September 9, 2008, Barry R. Stokes pled guilty to twenty nine counts of embezzlement from employee benefit plans, one count of mail fraud, two counts of wire fraud, six counts of money laundering and four counts of criminal contempt of court in U. S. District Court for the Middle District of Tennessee, Nashville Division. Stokes was president and CEO of 1 Point Solutions, LLC, a third party administration firm located in Dickson, Tennessee. 1 Point Solutions provided administration services to 401(k) plans as well as other employer sponsored employee benefit plans. As part of its services, 1 Point Solutions collected employee contributions for client plans which were meant to be invested in 401(k) accounts of plan participants. Instead, Stokes used the plans' funds for his personal and business purposes including his use of funds to purchase an extensive Japanese art collection. The total amount of the amount of funds Stokes embezzled exceeded $14 million.

Isn't that the truth!

I am always shocked when well-t- do affluent, educated, upwardly mobile folks just hand off their money like that. These are the same folks who are my bosses, who gave me a bad evaluation if I am not detail oriented enough, geeeez.

Affluent people being imprudent about their spending habits scare me. If I am ever rich someday (doubt it) I think I would try to be nearly as frugal as I am now, so I could save up more for, I don't know, bathing in or something.

Alot of businesses are here because people will just blindly fork over their money without paying attention.

This is really a major one and has been on the local news for several days.

Some other recent scame in Charlottesville:
[rds.yahoo.com]

[www.charlottesvillenewsplex.tv]

Safe to say, business is currently booming. The office has nearly doubled in size over the past 2 months. Like any good ponzi scheme, these cases work fine as long as the money keeps rolling in. With the current economy, many of these cases are falling apart now.

"On a very special episode of 'Happy Days', Ponzi jumps a shark!"

LOL, Chris. Thanks for the laugh.

You know, lately I've been thinking of creating a Ponzi-inspired board game (no kidding) -- a Monopoly for our modern age. "The Ponz" or "Ponz" would be a perfect name.

Donald Trump a scammer? Say it ain't so! :D

But, seriously, anyone who likes to proclaim they made their billions all by themselves... how many didn't do underhanded things like this... ALL the time?

@clocker: UH OH!!! IM AN IT CONSULTANT AND WE HAVE TONS OF COMPUTERS!!!!!!!!!

better start looking for a new job...

Sometimes appearance is everything.