Monday, September 13, 2010

PONZI SCHEMES: INFAMOUS PERPETRATORS - Part 2

SCIENTOLOGY SNEAK

Reed Slatkin was a co-founder of the internet service provider Earthlink and a Scientology minister. He established himself as a savvy investment advisor for many A-list celebrities and wealthy heads of corporations. Unbeknownst to these individuals was that Slatkin was working out of his garage on a scheme that defrauded these individuals out of roughly $593 million. In order to work his scam, he produced fake statements that referred back to various nonexistent brokerage firms. The Church of Scientology received millions of Slatkin’s winnings; however, in 2000, the SEC caught on to him and discovered that he wasn’t even licensed.

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