“Stinson arrested on Phila. Ponzi charges”

Posted: November 7, 2010 in Bidness, Criminal Activity

Well, it looks like we’ve got our very own homegrown Bernie Madoff.  Like Madoff, Robert Stinson promised unrealistic returns on their money, and people fell for it.  Also like Madoff he may have had financial advisers abetting him.   The local con man ran a company called (perhaps ironically) Life’s Good, Inc., as a ponzi scheme, and he has now been arrested.

As usual, his New York counterpart was successfully fleecing people longer than our guy,  but it looks like Philly may win after all.  Robert Stinson Jr. may actually have a LONGER SENTENCE THAN BERNIE!  We’re talking CENTURIES…

I guess life WAS good...

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Comments
  1. phunnyphilly says:

    Well, it looks like Mr. Stinson will only have to serve about 30 years in prison. He’ll be sentenced in December 2011. Maybe he should have tried for a better deal by ratting out his co-conspirators. Then he’d only be 70-something when he got released.

    http://www.philly.com/philly/news/20110815_Repeat_Ponzi-schemer_pleads_in_bilking__17_million.html

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