Post A Scam
Scam: #1489

Scam Alert

Person

  • Posted By: Anonymous
  • Submitted: 10/22/2010
  • Severity: 9
Share

Thomas Petters, Bruce Prévost and David Harrold

Business Fraud of $1 Billion

West Palm Beach, Florida

These three Palm Beach County hedge fund managers promised investors safe, steady returns of 12.5 percent a year. However, they fraudulently funneled more than $1 billion of the investors' cash into a Minnesota Ponzi scheme. They lied to investors to get them to put money into a scheme run by Thomas Petters.

Comments

No Comments... Be the first to comment!