Thursday, July 16, 2015

Ponzi schemes and campaign contributions

Menomonee Falls man gets 2 years in Ponzi scheme. (Milwaukee Journal Sentinel, 7/15/2015)
From 2006 to 2012, Michael Enea persuaded at least 10 people, including friends and family members, to give him money for him to invest in fictitious portfolios that promised "annual returns typically ranging from 20% to 35%."

How he used some of the $2.1 million he scammed
  • $66,390 - hunting expenses and purchase of a hunting lodge, 
  • $64,142 - mortgage and related expenses, 
  • $55,029 - cars and related expenses
  • $26,146 - entertainment 

And maybe, just maybe, one of these campaign contributions to Scott Walker.

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