It takes an economic professor to coming up with something as clever, and obvious, as this doozy.
Have you seen the news of the estate sale for Charleston Southern University professor Al Parish? He was nabbed by the U.S.Security and Exchange Commission after opening a few investment companies on the side. The SEC says Parish provided regular statements to his 300-or-so investors, saying their combined $314 million was safe and growing, when less than $230,000 actually stayed in the account.
When authorities came to pick him up, guess where they found him instead? The hospital, with a flaring case of amnesia. Well, isn't that handy.
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Comments: 10
What a scam in itself...
It just seems like so many feel they can get away with this crap, that it will never end. And when we saw one person getting away with it, and even become President while being tried for it, it has only increased...