Stop Digging!

Recognizing a Fibber can be a challenge.

If you’ve dug yourself into a hole, the first thing to do is to stop digging. It’s easier to keep digging, sure; that’s what you know. But, as Richard Nixon could have testified, it’s the cover up that gets you. Such is the case with Henry Fecker III and his life partner Steven Steiner. Fecker was arrested last week at the couple’s luxury home in coastal Maine and charged with, among other things, obstructing an SEC investigation. The case dates back to 2004 when the SEC shut down Fecker and Steiner’s company Mutual Benefits Corp. alleging that it had become a Ponzi scheme. (more…)

Green Energy Scamster Convicted

We are pre-wired to believe that we are doing an extraordinary pre-investment investigation, when we are really only helping a scam artist set the hook deeper.

James Rivera of Carson, California, convinced hundreds of people that he’d developed a windmill technology that was a partial answer to our need to develop green energy sources. Rivera and his companies, “Almighty Wind, Inc.” and “Apostles, Inc.,” started gathering victims at a non-denominational Christian church in California and spread out from there. Rivera was convicted late last month by a jury in Maine of one count of mail fraud and 10 counts of wire fraud. Before we draw lessons from this case, let’s read part of the story, as covered by the Bangor Daily News: (more…)

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