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May 18, 2006 -- Don't lose your common sense for greed

The FBI has arrested two people for stealing $69 million from people who thought they were putting money into investments. Instead it was used to buy jewelry, cars and fancy homes, according to the LA Times. The two main players in the scam told people they would get back 25 percent per year and as much as five times their initial investment for getting involved in this life insurance pool. In order to make it seem like it was real they bought several policies and showed potential targets. So, it looked legit from the get go. But the two crooks were already in trouble with the SEC for stealing $7 million in a “prime bank note” scam. There is no such thing as a prime bank note. So, what is the common thread here? People lose common sense when greed gets the better of them. Any time someone offers you a great return on your money and you are supposed to believe them on faith, you’re asking for it.
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