ponzi scheme fraud Tag

Yet Another Ponzi Scheme

SEC filed lawsuit against a Wyoming “Live Wealthy Institute” alleging operated a real estate investment scam conning investors out of $170 million.

The Securities and Exchange Commission (SEC) recently filed a lawsuit against a Wyoming man, Dale Tenhulzen and his limited liability company “Live Wealthy Institute” alleging that Tenhulzen and Live Wealthy operated a real estate investment scam conning investors out of $170 million.  The scam roped in over a 1,000 investors in 35 states.  Most of the investors were elderly folks who liquidated their retirement funds for the purpose of investing.  These poor victims were conned with promises of “8 to 10 percent returns” in a very “safe, stable” investment. This alleged scam has all the hallmarks of a classic Ponzi scheme.  REMEMBER: ...

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