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September 11, 2003

Pyramid Scheme Collapses

By QBlog in

This, from the Seattle Post Intelligencer (I love that name), is a story about pyramid scheme operator Anthony Blissett. He pleaded guilty to charges and faces up to 5 years in prison. It's not about Quixtar but read the story anyway.

Ex-CEO pleads guilty in pyramid scheme

Unsophisticated investors were told they could get annual returns as high as 30 percent in real estate, securities, commodities, discounted bank notes and trade finance instruments that the company said were previously offered to only whites and select blacks, SEC investigators said.

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