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Resource ID: #10767
Subject: Fraud
Source: Los Angeles Wave
Affiliation: 
Date: 

$0.00

Description

Dozens of investors reported being fleeced out of millions of dollars by a person promoting a company manufacturing a new condiment. After forking over their money, hundreds of investors, it turned out, living not only in our circulation area, but in 50 states, eventually lost contact with the promoter. Inteviews with scores of people revealed that the promoter, exploitin a high level of personal charm, raised money for yeras from individuals, frequently the members of church groups, amny elderly, on thepromise of handsome financial rewards when the compay once got going.

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