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ProfessorGAC

(76,789 posts)

9. Had A Guy In The City Near Us Do This

Thu Aug 20, 2015, 11:51 AM

Aug 2015

Name was Rooney. Fleeced a bunch of people with a scam promising 15%, zero risk investment in what was little more than a pyramid scheme.

Then, took the margins, declared bankruptcy of his firm, and left everyone holding the bag.

Had people cashing out IRAs and 401k_s, or borrowing against them in what people thought was a terrific cash flow investment, that was all fake.

This happened in the 90's and he's still in jail. Got 25 years or something like that.

Nearly everyone caught in his net was retired or just about to.

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Highlight:

most disgusting story of the week. pastor sentenced for swindling elderly out of millions [View all] cali Aug 2015 OP

Let us prey. ChairmanAgnostic Aug 2015 #1

All these TV ministries are doing this. Cleita Aug 2015 #2

not a tv ministry cali Aug 2015 #3

It's a business malaise Aug 2015 #10

That was one of his best. And that's saying a lot! Initech Aug 2015 #11

Not disgusting about this story at all; it's wonderfully remarkable this criminal was brought to justice. . . Journeyman Aug 2015 #4

the elderly, some with dementia, are not getting their money back cali Aug 2015 #6

Had A Guy In The City Near Us Do This ProfessorGAC Aug 2015 #9

This seems appropriate: Maedhros Aug 2015 #5

scammers always look for the vulnerable Liberal_in_LA Aug 2015 #7

One day all these crooks will get caught. Initech Aug 2015 #8

That is why I am against some religions. Xyzse Aug 2015 #12