04 Apr 2017
It was a fraud scheme involving penny stocks, but the scheme’s mastermind ended up making millions of dollars from unsuspecting investors around the country.
California resident Zirk de Maison, a self-described merchant banker, devised a plan to make himself some easy money off the backs of hard-working folks. From about 2008 to 2013, he created nearly a half-dozen small public shell companies—entities that do no actual business and have no assets. He then offered public shares in the company’s penny stocks, which are financial instruments generally worth less than $5 a share.
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