An International Affair

There is a path through the dangerous investing landscape, but only the vigilant find it.

Investment fraud is an international affair. In January 2011, the U.S. Securities and Exchange Commission filed an enforcement action against Costa Rica-based Provident Capital Indemnity, Ltd. alleging that the company, its president, and its auditor were engaged in a Ponzi scheme. We wrote about the case at the time. Last week, 5,600 miles away from Provident’s headquarters, Dutch Police arrested four men accused of selling more than $200 million in Provident investments to citizens of the Netherlands and Belgium. According to an article in Bloomberg BusinessWeek: (more…)

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