Investing in someone else's "business"

Three former PTA mothers used their connection with a suburban elementary school to recruit investors in a phony $14 million get-rich-quick scheme.


The alleged swindle started in 2008, when the women told fellow PTA members they had the exclusive right to sell products from a well-known local dairy to Disneyland, Disney hotels, and other small retailers.


Investments, which had to be made in cash, ranged from $5,000 to $208,000. The 40 investors used their life savings, maxed out credit cards, and took out second mortgages to come up with the money


Full Story: http://www.boston.com/news/nation/articles/2011/07/07/3_calif_moms_accused_of_using_pta_in_ponzi_scheme/


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