Reply #16: The thing about these fraudsters

[Coyote_Bandit]

is that they can be convicted of crimes and still work in the financial industry without their clients having any way of knowing their past.

There is a fellow here that pled guilty and plea bargained a probationary term as a first offender. He was arrested and charged a few years back in an FBI undercover high yield investment fraud sting. His legal proceedings were in federal court half way across the country and were not reported here. He does not sell stocks or bonds or insurance products and is not required to be licensed. He and his partner who was implicated but not charged in the FBI case sell alternative investments. I'm told that these fraudsters are moving their personal assets as well as those of family and clients south of the border to invest in luxury accomodations for travelers. With the money being placed outside the country it would be difficult to recover and with their personal assets being placed outside the country they are for all practical purposes judgment proof. These fraudsters present themselves has good men of faith and work the church circuit. Many of their clients are older and seeking investment alternatives for thier life savings. These guys need to be required to do hard time in the general prison population and make restitution to their victims. And their clients need to have access to the information that would enable them to avoid being victimized.