From CNBC: "Two things are infinite: the universe and human
stupidity; and I'm not sure about the universe." Those were the words that Fredrick Douglas Scott attached to
most of the emails sent to the clients of his boutique investment banking and
financial advisory firm, ACI Capital. What the clients didn't realize was that
the joke was on them, according to federal prosecutors.
In its most recent regulatory filing, ACI claimed to manage
$3.7 billion in assets. The FBI said Scott used ACI to execute two related
fraudulent schemes in which money wired to the firm by clients was stolen for
Scott's personal use…..
Read all about it at http://www.cnbc.com/id/100792619
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