ponzi scheme

Ponzi Schemes

Posted on 04/22/2009 by | General News | Comments

Money & SavingsRecently we have heard about the biggest ponzi schemes in history. Bernard Madoff has become a household name but these types of scams have been happening for years. In fact, they are named after Charles Ponzi who envisioned and created a massive money making scheme in the early 1920s. Here’s how they work: Investors are lured with promises of unique opportunities producing high returns, and for awhile they may get those returns. But what they don’t know is that their …

The $75,000 Lunch

Posted on 04/21/2009 by | General News | Comments

Money & Savings“We were invited to a seminar where there were two main speakers. They talked about different kinds of investments to have an extra income for retirement and it was interesting. After a couple of days, they made an appointment with me to visit me in my home.” That was the beginning of a tragic story for Luis and Manuela Corona, a couple in Florida. Looking for a way to increase their retirement savings they attended a free lunch investment seminar. …