SubscribeHow would you know that your bookkeeper is doing the right thing?
There’s a bookkeeper in San Francisco that’s facing a life in prison for fraud, after he pleaded guilty to charges of defrauding investors in excess of $20million
The bookkeeper had been running a ponzi scheme – not quite the same scale as Madoff, but for longer. Apparently the bookkeeper had been promising clients that the money they invested with him would earn huge returns through a series of commercial loans. He’s been doing this for the last thirty years!
Simply, he persuaded new investors to get on board, and used those funds to pay out existing investors, or for his own personal use
2nd Quarter: 28/02/12
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