Tag Archives: Ponzi schemes

When the shit volcano erupts, everybody runs for cover

When you’ve got a big development scheme in your state that’s had the enthusiastic backing of The Great and Powerful, what’s the last thing you want to hear?

“Ponzi-like scheme”?

“Systematically looted”?

“… the gamut from false statements to deceptive financial transactions to outright theft”?

“… pilfering tens of millions of dollars in investor money”?

Yep, we’ve got ’em all, as Mount Quiros, the shit volcano, erupts and everybody runs for cover lest their expensive suits get ruined.

You know, it’s not very often that the term “clusterfuck” is an understatement, but here we are.

Continue reading

Advertisements