Posts Tagged ‘twitter facebook pyramid scheme’

SEC halts pyramid scheme being promoted on Facebook and Twitter

Securities and Exchange Commission

Newscast Media WASHINGTON—The Securities and Exchange Commission today
announced an emergency enforcement action to stop a fraudulent pyramid scheme by
phony companies masquerading as a legitimate international investment firm.

The SEC has obtained a federal court order to freeze accounts holding money stolen
from U.S. investors by Fleet Mutual Wealth Limited and MWF Financial – collectively
known as Mutual Wealth. The SEC alleges that Mutual Wealth has been exploiting
investors through a website and social media accounts on Facebook and Twitter,
falsely promising extraordinary returns of 2 to 3 percent per week for investors who
open accounts with the firm. CONTINUE TO FULL STORY>>

         

Be the first to comment - What do you think?  Posted by Joseph Earnest - March 5, 2014 at 11:19 pm

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