Missouri Secretary of State Exposes Investment Scam in St. Peters
A cease-and-desist order claims St. Peters resident Michael Kitchen, his company PIF Financial Services, LLC, and others were involved in a "classic" high-yield investment program scam.
Missouri Secretary of State Robin Carnahan issued a cease-and-desist against a St. Peters resident, his financial company and others last week. Carnahan alleges that Michael Kitchen, his company PIF Financial Services, LLC, and others were involved in a "classic" high-yield investment program scam. According to the cease-and-desist order, Kitchen is accused of accepting investment funds from at least five investors in a program he assured investors was risk-free and promised astronomical returns in as little as 30 days. The order says that loses in excess of $800,000 were racked up by the investors. One investor, an 80-year-old from St. Joseph, Mo., invested $100,000 in 2008 and has not received any return on investment or refund of …
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Scott Johnson
9:31 am on Tuesday, December 18, 2012
Another scam everyone should be aware of is the Amway Tool Scam. Google stoptheamwaytoolscam for more information, and forward this to every non-IBO you know, so they don't get scammed. more ›