The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: coug who wrote (175798)	1/8/2009 11:29:04 AM
From: DebtBomb	Read Replies (2) of 306849

Fund manager charged for alleged $50 million Ponzi schemeBy: Reuters \| 08 Jan 2009 \| 11:07 AM ET Text Size WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission said on Thursday it has charged a Philadelphia investment fund manager and firm for an alleged $50 million Ponzi scheme. Highlights: * Accuse Joseph Forte obtained an estimated $50 million through sales of securities in the form of limited partnership interests in his firm. * Say federal judge issued order freezing Forte's assets and ordering an accounting. cnbc.com

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