Rhode Island | Investor's Watchblog

A Ponzi of One

On April 23, 2012, in Ponzi schemes, Rhode Island, Rhode Island, Scams, The Vigilant Investor, by IW Dog

To spot a competent scamster you need to know more.

The defining characteristic of a Ponzi scheme, it is often said, is the use of money from later investors to pay supposed profit distributions to earlier investors. But the accurate definition is just a bit broader, as evidenced by a recent press release from the FBI: (more…)

IW’s Crystal Ball Calls Another One

On October 26, 2010, in Healthcare, Rhode Island, Rhode Island, SEC, Scams, Securities Industry (general), by IW Dog

The American population is aging. In the past three years, millions of people who once identified themselves mainly as baby boomers, began identifying themselves as senior citizens. The development is too big to escape the attention of scamsters.

When we looked into the IW crystal ball searching for the types of scams that would plague the next generation of investors, healthcare scams were easy to see. The American population is aging. In the past three years, millions of people who once identified themselves mainly as baby boomers, began identifying themselves as senior citizens. The development is too big to escape the attention of scamsters, who long for headlines and trends on which to hang an investment fraud. The U.S. Securities and Exchange Commission (SEC) believes it has found one such fraud in Rhode Island. (more…)