Another Ponzy scheme...with yachts

It seems that these days american yacht brokers are more creative than ever !

Robert Frank (The Wealth Report) relates the story of a californian yacht broker (a "well-respected businessman ...") who left a message for his employees saying he would return next week.

Investors were told that they were investing in 'boat deals' whereby Mr. Fitzgerald and his partner, David Goodner of Channel Island Yachts were purchasing power and sail boats inexpensively (because of the economy), then selling them to a pre-arranged buyer.

Same old story about yacht broker ?

Click here to read the Wealth Report article