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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (72053)	10/11/2019 1:43:43 AM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

High-latitude contract fraud... The Billion-Dollar High-Speed Internet Scam bloomberg.com Elizabeth Pierce impressed investors with hefty contracts for fiber—until they learned she was the only one who’d signed them. Pierce had raised more than $270 million from investors, who had been impressed by her ability to rack up major telecom-services contracts. The problem was that the other people whose names were on those deals didn’t remember agreeing to pay so much—or, in some cases, agreeing to anything at all. An internal investigation and subsequent federal court case would eventually reveal forged signatures on contracts worth more than $1 billion. In a statement about the controversy, a Quintillion spokesman says, “The alleged actions of Ms. Pierce are not aligned with how Quintillion conducts business. Quintillion has been cooperating fully with the authorities.” Pierce, through her lawyer, declined to comment.