The SEC says investments were sold in a product that would generate guaranteed returns of 300 to 500 percent in four years.
April 08, 2014 at 05:00 PM
1 minute read
The original version of this story was published on Daily Business Review
The Securities and Exchange Commission says it has busted a South Florida-based Ponzi scheme targeting investors through YouTube videos.
The SEC says JCS Enterprises Inc. and T.B.T.I. Inc., operated by two businessmen, sold investments in a product dubbed virtual concierge machines, or VCMs, that would purportedly generate guaranteed returns of 300 to 500 percent in four years.
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