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Resource ID: #16049
Subject: Fraud
Source: The Republican
Affiliation: 
Date: Sept. 26-28, 1999

$0.00

Description

The Union-News, Sunday Republican reports "American Inventors Corp. billed itself as an inventions promotion company - a resourceful corporate friend to basement visionaries and backyard tinkerers eager to see their brainchildren patented and borne into the marketplace.... Federal officials say that Russell resident Ronald Boulerice and others created an elaborate money-making machine that preyed on the dreams, sweat and money of more than 34,000 inventors, swindling them out of as much as $100 million since the company's founding in 1975. All without generating a single dime of legitimate profit to any customer who used their services. Last May, Boulerice and nine others associated with American Inventors and two of its corporate spin-offs were indicted on charges of mail fraud, money laundering and tax evasion...."

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