@CatsThe one exception (generally) is a CD account. But a great CD rate
back in the day was still only 3% or 4% for a 5 year deposit.
ANYONE who promises you any specific return on investment is a FRAUD! Why
don't people learn that?
We have a crisis of economic illiteracy in this country. People do not
understand the relationship between risk and return. They do not understand
where these returns come from. They do not understand that when returns are
excessively high, they are dealing with either a risky investment or a scam. And
when these high returns are "promised" they are definitely dealing with
a scam. A promised return of 12% should have sent these people running the other
Now, the lame-duck DOJ needs to take proper action against this guy. I was
scammed for 50K, and Utah's DOJ did nothing more than tell me it was a
civil case, which meant it would go nowhere. This and other similar experiences
with the judicial system have taught me that justice does not exist in our
Utah will never run out of ponzi schemes.
Utah at its finest
This what I hated the most when I lived in Utah. Every time you turn around it
seams like your neighbor or some one is trying to sell you Amway or some other
pyramid ponzi scam. I have never seen it like that any were else I lived in the
There is another Palmer who ran a $80 million Ponzi scheme here in Idaho Falls
who is now serving time. Hmm. Related?
This is becoming laughable in Utah. Did y'all really think you could make
a 12% return in this economy? How must does greed play into your day-to-day
Geez, another ponzi scheme? We'll never run out of crooks, but you'd
think that we'd eventually run out of idiots who give them money.
It's too bad that people keep falling for these things.More
affinity fraud -- right?
Thanks to the DN for keeping these crooks in the spotlight. The more informed
Utahns are the smaller the audience for scam criminals.