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Home / CO: AG Busts Ponzi SchemeCO: AG Busts Ponzi Scheme
Last Updated on Thursday, 25 October 2007 08:52 Written by rslcpol Thursday, 25 October 2007 08:45
Republican A.G. John Suthers already has enough on his plate, and now you’ve got a $11 million dollar swindler trying to rob people blind. I thought ponzi schemes went away when the internet came along and ushered in the era of the Nigerian scam.
A Fort Collins man, who solicited $11 million in investments from approximately 300 Coloradans during a four-year period, has been accused of swindling 41 people out of more than $2.3 million.The state grand jury accused Gene Robert Little 62, of operating a Ponzi scheme in which he paid early investors in his company – Managed Cash Flow – with money he allegedly swindled from later investors.