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Three women charged with using local PTA in Ponzi scheme

July 7, 2011 Leave a comment

The headline:  3 Calif. moms accused of using PTA in Ponzi scheme

The link: http://news.yahoo.com/3-calif-moms-accused-using-pta-ponzi-scheme-202745915.html

The summary:  Three women are being charged with 22 felonies including securities fraud and grand theft after they used their local PTA and its members to build a $14 million dollar Ponzi scheme.

The reaction:  $14 million!  What the hell kind of PTA is this?

This must’ve been a wealthy school district to build this thing up to $14 million just using their local PTA.  Even though it seems obvious I can’t believe how many people still fall for these “can’t lose” schemes.  There’s NO INVESTMENT OUT THERE that let’s you earn 100% with no risk!