Tuesday, June 29, 2010

Ponzi Update

Ponzi Scheme Wipes Out Oprah Book Club Author Jacquelyn Mitchard: "Jacquelyn Mitchard, author of the best-selling novel 'The Deep End of the Ocean,' says she has been virtually wiped out by a $190 million Ponzi scheme.

The author, a mother of nine children in Madison, Wisconsin, is the victim of an international Ponzi scheme masterminded by Trevor Cook, a Minneapolis trader who bilked over 1,000 investors out of millions of dollars."

Hat tip to Jeff Meyerson.


Gerard said...

Yikes. She is a nice lady too.

Richard R. said...

It's pretty sad, but also too bad that she put all her eggs in that one investment basket.