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2 more Ponzi schemes, one old, one new December 21, 2008

Posted by tsclaw2209 in News.
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First the new.  This week, Milton Retana, the owner of Best Diamond Funding in the Los Angeles area was indicted for fraud and making false statements.  It is alleged he stole $62 million from investors, most of whom are from the Hispanic community.  Notice  a patern here with all of these Ponzi schemes?  In addition to using local papers and magazines, he used the Internet and weekly seminars.  You can read more about him here

Now the old.  Ronald Keith Owens, 72, of Mineral Wells, Texas, who previously pleaded guilty an Information charging offenses related to an investment scheme he ran got 63 months.  Owens hundres of victims lost over $2 million dollars.  You can read more about his scam here

I think I’m done making my point about the media pretending like Madoff invented the Ponzi scheme.