Durn rich people are stupid! They seem to give their money to anyone who promises big returns and never check these guys out. If I didn't have more ethics I'd buy a nice suit and start fleecing the rich, apparently it's easier than you'd think.
Another mini-Madoff has popped up in New York. Nicholas Cosmo, who runs Agape World Inc. is accused of taking investors to the tune of $300 million and pocketing $140 in the process. Sweet deal, huh?
Meanwhile that fund manager who disappeared in Florida, which many thought was a suicide, has turned up in police custody. Arthur Nadel, whose family reported him missing in early January, was arrested on Tuesday by FBI agents in Tampa.
Seems like in these cases as well as the Bernie Madoff magilla, people gave these charlatans their millions without so much as a, "So where are you going to put my money?". As we found out, Madoff may not have ever made a single trade with the Billions he scammed from gullible investors. He just kept moving the money around and skimming off the top.
I have to believe if I had a few million laying around I sure as heck wouldn't give it to a guy I played golf with on a handshake! But then again, I don't have that kind of dough to be careless with.
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