I recently had the opportunity to learn more about Ponzi scheme out of Florida. One of the employees victimized by this scheme and company shares her experience with Identity Theft Secrets. K. Balbi, in 1992, worked for a food wholesaler that is now out of business called Sweet Life Foods. Back then they were prominent …
Mitchell drew investors into the scheme with promises of a return on their investment of 9% – 12%. He would then only invest small amounts of their money in legitimate investment options, paying them each month a little bit. Each month, victims thought that their money was safe, secure and earning them money.
Someone asking you to invest in buying, renovating and selling properties might seem like a real estate market savvy business person in the current market but then again over 500 victims and $30 million were racked up by what can be really can be called a Ponzi scheme.