Ponzi in BC | Clipmarks


	Ponzi in BC

woodson

8-7-2009 11:36 PM

25 views

woodson says:

This scheme didn't lasted all that long, 2 years or less.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e0712184-4c8d-4a8a-a390-ee5b3b803c6c/D604FA35-F1F7-4086-8D68-25EC15C7FBC0/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm" href="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm" style="font-size: 11px;">news.xinhuanet.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm">4 Canadian B.C. residents allegedly conduct $10 million Ponzi scheme</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm"><P><FONT id="Zoom">    VANCOUVER, Aug. 7 (Xinhua) -- Four residents in 
Canadian province of British Columbia (B.C.) were found to have conducted a 
"deliberate and well-organized " fraud that resulted in more than 800 investors 
losing 10 million U.S. dollars, Canadian Press reported Friday. 
</FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm"><FONT id="Zoom">    The B.C. Securities Commission said the three men and 
one woman began the fraud in 2005 with an investment club. They lied to 
investors about how their money would be invested, the returns investors could 
expect and the risk associated with the investments. 
</FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.xinhuanet.com/english/2009-08/08/content_11845116.htm"><FONT id="Zoom">    Investors in B.C. and elsewhere had deposited about 
16 million U.S. dollars before the scheme collapsed in June 2007, the securities 
commission said. Investors tricked by the Ponzi scheme had received back as 
little as 3 million U.S. dollars and no more than 5.6 million U.S. dollars. 
</FONT></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D604FA35-F1F7-4086-8D68-25EC15C7FBC0/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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