Alleged Twenty-Year Scam Points to the Future of Investment Fraud

People brought up on the idea that only things that “sound too good to be true” are scams will be sitting ducks for scams that promise no more than one or two points more than market rates.

It looks like the U.S. Secret Service is branching out beyond protection of important people and catching counterfeiters.  Last week they arrested a former Royal Alliance stockbroker and charged him with wire fraud and money laundering in connection with an alleged twenty-year Ponzi scheme.  According to the U.S. Secret Service,  Timothy Jay Geidel of Hamburg, New York, ran his scam out of the offices of investment advisory firm Georgetown Capital of Williamsville, New York.   According to (more…)

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