Friday, July 23, 2010

Remember When I Said...

Remember when I said that Promissory Notes are strucutured just like Ponzi schemes and you should never invest in them?

Once again, proof positive that I am right and you should never invest in any Promissory Notes. Here is a story about some CPA's selling Promissory Notes that turned out to be a Ponzi scheme! What did I tell you about Promissory Notes? They are structured just like Ponzi schemes. Is it really a surprise that they turn into Ponzi schemes? Not if you read this blog or you have read my book.

See this Press Release from the U. S. Securities & Exchange Commission for the full story:

http://www.sec.gov/news/press/2010/2010-130.htm

I will keep blogging about this as long as I can blog. Be careful out there.