Ponzi Scheme Kills 9/11 Monument
The Securities and Exchange Commission alleges Coadum Advisers Inc. raised $30 million by promising investors returns as high as 6 percent per month. The SEC contends that these fraudulent investments financed a towering sculpture in the Maryland mountains depicting three New York City firefighters raising the US flag at Ground Zero. In hopes of repaying the defrauded investors, the 40-foot bronze statue unveiled in November 2007 at the National Emergency Training Center in Emmitsburg, Md., is for sale.
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