I can’t believe it. The SEC announced that it charged an investment adviser in Palm Beach Gardens, Florida with fraud for running a Ponzi scheme. Here is the Litigation Release.

OK, listen up. The release says that this “adviser” claimed to be making returns of 8% per month. Huh? Have we not learned anything? Surprise! They were lying.

Let’s repeat this again. If an investment return is too good to be true, they are going to steal your money. If you think that you’ve discovered the only investment adviser on the planet who can consistently deliver returns that are 30% better than the market, you are going to lose your money, your house, your dog and everything else you own.

That’s the angry view of one lawyer from Jupiter, Palm Beach County, Florida. My name is Marc Dobin.