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Le Club Private Investment Club

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August 30, 2000 | From Associated Press
Federal regulators filed suit Tuesday to stop an allegedly fraudulent pyramid scheme they said was masquerading as an Internet investment club and had bilked about 2,000 investors of $5.6 million. For a $1,495 membership fee plus $149 a month, Le Club Prive offered investors a chance to earn commissions by recruiting new members to the club, the Securities and Exchange Commission said in its civil suit filed in federal court in Dallas.
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BUSINESS
August 30, 2000 | From Associated Press
Federal regulators filed suit Tuesday to stop an allegedly fraudulent pyramid scheme they said was masquerading as an Internet investment club and had bilked about 2,000 investors of $5.6 million. For a $1,495 membership fee plus $149 a month, Le Club Prive offered investors a chance to earn commissions by recruiting new members to the club, the Securities and Exchange Commission said in its civil suit filed in federal court in Dallas.
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