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By By Michael A. Hiltzik and Charles Piller, Special to the Tribune. Michael A. Hiltzik and Charles Piller are staff writers for the Los Angeles Times, a Tribune newspaper.

February 12, 2002

More investors getting caught in Web of deceit

Intro:
 

With three years' experience putting money into get-rich-quick programs online, Jack Reitzel believes he has learned all the rules.

One rule is not to believe anything the promoters say. If they promise a 300 percent return on investors' money in two weeks, it's more than likely the site will disappear before the deadline is up. If they claim their response is slow because they've had emergency surgery, or technical problems, or a dispute with their bankers, it's time to worry.

 

And above all, one should understand that the longer one plays, the better the chance of losing.

 
Excerpt: "It's never been easier for con men to reach so many victims so easily," said David Marchant, a Miami-based publisher of newsletters exposing offshore investment scams. "The Internet has accelerated the life span of your average Ponzi scheme, which used to be spread by word of mouth. With the Internet, they don't have to do the traditional things like infiltrating church groups anymore."
 
 
 

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