Sky Capital Gets Busted for Fraud | SEC Takes it to Court

Sky Capital fraud case flies into Federal Court

Image by Matthew Stubstad

Every once in a while, I think that perhaps I should invest in the stock market. People make a lot of money doing that, or so I’ve heard. I always shy away from going through with it, though,  because I feel like I don’t know what I’m doing.

Today is one of those days when I’m glad I haven’t tried to participate in something I don’t fully understand. I could have been one of the Sky Capital investors who got bilked out of all their money. Check out this tidbit from Courthouse News Service:

Sky Capital and the six men who run it sold millions of dollars of securities in a fraudulent boiler scheme to investors who were restricted from selling the stock, which became worthless, the Securities Exchange Commission claims in Federal Court.

Beware aggressive salespeople

Any investors who were counting on being able to sell their stock and use the money might have to turn to paycheck loans instead. This is another example of why sometimes people shouldn’t trust fast-talking salespeople. If a person tries to sell you something and seems to be withholding information, use your money somewhere else. ... click here to read the rest of the article titled "Sky Capital Gets Busted for Fraud | SEC Takes it to Court"