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Couple Wins Fraud Suit in California

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At a glance:

This is the story of an elderly California couple who were among many who fell victim to an investment scam. They were taken in by promises of higher returns than they received at their bank, and that the investment was insured.
 
The couple invested their life savings ($85,000) into a pyramid-like scheme and lost it all.
 
They were recently awarded a judgement of over $600,000 by the courts.

Elderly couple win financial-abuse case

Monterey County Herald - 3/19/2006 6:03 AM

Morgantini took the case from Monterey County Superior Court to federal bankruptcy court -- her first foray into federal court -- and then back to Monterey, where she recently won a $665,000 judgment against Blumenthal, Fiske and Michael Egan, the alleged masterminds of what Morgantini described as "a really evil Tupperware or Amway scheme,... a classic Ponzi scheme" in which initial investors were paid off with new investments until the fund ran dry.
 
The win is bittersweet for Wanda Stark. In the intervening years, her husband died thinking he left her with nothing more than her teach
 
· Read The Full General Annutiies Fraud Article From Monterey County Herald -->

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