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Economist Accused of Fraud
Charleston (South Carolina) Post and Courier ^
| Kyle Stock and Schuyler Kropf
Posted on 04/08/2007 8:08:05 PM PDT by The_Media_never_lie
Al Parish, a prominent economics professor at Charleston Southern University and a flamboyant fixture in the local business community, was accused Thursday of securities fraud by the federal government, which said perhaps tens of millions of dollars are missing.
Parish and his Parish Economics LLC, a company owned by Parish and his wife that has invested on behalf of an estimated 300 individuals and companies, were sued for five counts of civil fraud by the Securities and Exchange Commission.
(Excerpt) Read more at charleston.net ...
TOPICS: Business/Economy; Crime/Corruption; News/Current Events
KEYWORDS: amnesia; economist; fraud; investment
It seems like anyone who knew anything about business at all would have realized this guy didn't look right.
wow a crooked money manager
i am shocked
posted on 04/08/2007 8:11:43 PM PDT
("Qui desiderat pacem, praeparet bellum")
The fact that he was an economist should have tipped them off.
posted on 04/08/2007 8:19:09 PM PDT
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
Oh, yes the golden rule! If it sounds to good to be true! Are as my nephew says, when cab drivers start giving investment advice get out of the market. Same could be applied to the flipping a house BS.
posted on 04/08/2007 8:25:06 PM PDT
(Never let the facts get in the way of a good assumption.)
You dont even have to know anything about business to know that your money manager should only have authorization to trade your account, not the actual custody of your funds. That way you get a statement every month from the custodian, whether it is Schwab, Fidelity, whoever and stuff like this cant happen.
posted on 04/08/2007 9:11:48 PM PDT
(Resentment, redistribution, and re-education. The three Rs of liberalism.)
“The fact that he was an economist should have tipped them off.”
Nah,the jacket an tie should have tipped them off.
posted on 04/09/2007 5:48:21 AM PDT
(I came to love white people. At least that is what I was taught in my black history class.)
You dont even have to know anything about business to know that your money manager should only have authorization to trade your account, not the actual custody of your funds.
This seems so obvious. Then throw in the outrageous jackets and a little folksy charm and people go crazy with their money. It's almost as bad as the old Nigerian money expatriating scams.
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