.44 Magnum Investment Scam Was Intended to Be a Real Killer
Filed under: Investing, Crime
Sometimes it seems like the phrase “savvy investor” is an oxymoron. After all the times people have been duped by Ponzi schemes and Nigerian scams, they still fall for similar cons. But some investors recently found a way to lose their money with a real bang.
It’s the case of the .44 Magnum Leveraged Financing Program.
Some 70 investors gave fake financial firm Dresdner Financial $5.77 million based on a pitch that was much too good to be true. According to the SEC:
“[T]he Magnum Program…
.44 Magnum Investment Scam Was Intended to Be a Real Killer originally appeared on DailyFinance.com on 2012-10-19T12:01:00Z.
Permalink | Email this | Comments
http://www.dailyfinance.com/2012/10/19/44-magnum-money-scam-was-intended-to-be-a-real-killer/