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Published on Oct 27, 2009
The club environment can easily become the perfect setup for a scam. In Scam Alert, meet another investment club in Florida whose story unfortunately has a very different ending. One member joined up with her entire nest egg of $25,000 but found out later that the club leader, a church pastor, had shady ways of signing people up and spending their money. He stole $23 million from more than 1,000 people but authorities have only recovered $9,000 to date.