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Saturday, March 30, 2013

Authorities: $600M Ponzi scheme incubated in small NC town; regulators ignored complaints

In this Feb. 28, 2013 photo, Sarah Chavez, center, sits with her son Bidal, right, and daughter Sarahi, front, at her home in Lexington, N.C. Desperate to raise money for their 6-year-old daughter's cancer treatments last summer, friends told Jose and Sarah Chavez of a way to quickly turn their meager savings into a small fortune.

http://www.washingtonpost.com/business/regulators-ignored-complaints-months-before-taking-action-against-600m-ponzi-scheme-in-nc/2013/03/30/6fd138bc-993d-11e2-b5b4-b63027b499de_story.html?tid=pm_business_pop

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