December 09, 2009

Madoff Stole the Spotlight. Yagodayev Stole $11 Million.

As Madoff was splashed across headlines, Mr. Genadi Yagodayev of Queens, NY took advantage of the diversion by creating a Ponzi scheme of his own. In just eight months, he managed to take in $11 million for his Rockford Funding Group promising up to 21% returns. The SEC has its doubts about that, and Yagodayev is due at federal court for a hearing on the matter. See the story in Investment News. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091209/FREE/912099983/1094/INDaily01

Dec 9, 2009 5:04:46 PM

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